SG Americas Securities LLC Buys 37,723 Shares of Texas Pacific Land Corporation $TPL

SG Americas Securities LLC increased its stake in Texas Pacific Land Corporation (NYSE:TPL) by 408.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 46,957 shares of the financial services provider’s stock after buying an additional 37,723 shares during the quarter. SG Americas Securities LLC’s holdings in Texas Pacific Land were worth $22,284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Texas Pacific Land by 21.4% during the second quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 12 shares in the last quarter. Aptus Capital Advisors LLC raised its holdings in shares of Texas Pacific Land by 1.6% during the third quarter. Aptus Capital Advisors LLC now owns 969 shares of the financial services provider’s stock valued at $905,000 after purchasing an additional 15 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Texas Pacific Land by 1.6% during the 3rd quarter. Intech Investment Management LLC now owns 1,031 shares of the financial services provider’s stock valued at $963,000 after buying an additional 16 shares during the period. Sei Investments Co. lifted its holdings in Texas Pacific Land by 1.1% in the third quarter. Sei Investments Co. now owns 1,909 shares of the financial services provider’s stock valued at $1,782,000 after acquiring an additional 20 shares during the period. Finally, Larson Financial Group LLC lifted its stake in shares of Texas Pacific Land by 5.4% in the 3rd quarter. Larson Financial Group LLC now owns 410 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 21 shares during the period. Institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

TPL has been the subject of a number of recent research reports. Zacks Research downgraded shares of Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $639.00.

Texas Pacific Land Stock Performance

Shares of Texas Pacific Land stock opened at $378.01 on Thursday. The company has a market capitalization of $26.07 billion, a P/E ratio of 51.78 and a beta of 0.61. The company has a fifty day moving average of $399.22 and a 200 day moving average of $399.22. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.04. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%.The business had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $233.00 million. Analysts forecast that Texas Pacific Land Corporation will post 8.88 EPS for the current year.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.60 per share. The ex-dividend date was Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.88%.

Insider Transactions at Texas Pacific Land

In related news, CFO Chris Steddum sold 830 shares of Texas Pacific Land stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $400.33, for a total transaction of $332,273.90. Following the sale, the chief financial officer owned 12,040 shares of the company’s stock, valued at approximately $4,819,973.20. This trade represents a 6.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.90% of the company’s stock.

Texas Pacific Land Profile

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.