Kingswood Wealth Advisors LLC Increases Position in Texas Pacific Land Corporation $TPL

Kingswood Wealth Advisors LLC grew its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 123.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,909 shares of the financial services provider’s stock after buying an additional 6,586 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Texas Pacific Land were worth $3,421,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its holdings in Texas Pacific Land by 363.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 69 shares in the last quarter. Quarry LP purchased a new position in Texas Pacific Land during the third quarter worth about $29,000. CX Institutional purchased a new position in Texas Pacific Land in the third quarter valued at about $30,000. Eagle Bay Advisors LLC purchased a new position in Texas Pacific Land in the fourth quarter valued at about $31,000. Finally, Silicon Valley Capital Partners purchased a new position in Texas Pacific Land in the third quarter valued at about $33,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total transaction of $808,824.00. Following the completion of the transaction, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at $1,072,899. This trade represents a 42.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Donna E. Epps bought 895 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were purchased at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the transaction, the director owned 2,921 shares of the company’s stock, valued at $1,491,024.45. The trade was a 44.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 6.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. KeyCorp increased their target price on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Zacks Research raised shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a report on Friday, March 27th. Finally, Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $639.00.

Texas Pacific Land Price Performance

Shares of TPL opened at $439.99 on Thursday. The firm has a 50 day simple moving average of $481.52 and a 200-day simple moving average of $372.90. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20. The stock has a market cap of $30.33 billion, a price-to-earnings ratio of 63.07 and a beta of 0.76.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.06. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. The business had revenue of $211.60 million during the quarter, compared to analysts’ expectations of $204.00 million. On average, equities analysts expect that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.60 per share. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. Texas Pacific Land’s dividend payout ratio is 34.38%.

About Texas Pacific Land

Texas Pacific Land Corporation (NYSE: TPL) is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company’s origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.

The company’s primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.