Texas Pacific Land Corporation $TPL Stock Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC cut its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 80.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 721 shares of the financial services provider’s stock after selling 2,964 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Texas Pacific Land were worth $235,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Covestor Ltd lifted its holdings in Texas Pacific Land by 15.5% in the third quarter. Covestor Ltd now owns 573 shares of the financial services provider’s stock valued at $187,000 after acquiring an additional 77 shares during the period. Rakuten Investment Management Inc. acquired a new position in shares of Texas Pacific Land during the 3rd quarter worth $3,459,000. Oregon Public Employees Retirement Fund grew its stake in shares of Texas Pacific Land by 1.4% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 7,238 shares of the financial services provider’s stock worth $2,358,000 after purchasing an additional 100 shares during the period. Greenfield Seitz Capital Management LLC grew its stake in shares of Texas Pacific Land by 287.4% during the 3rd quarter. Greenfield Seitz Capital Management LLC now owns 5,392 shares of the financial services provider’s stock worth $1,757,000 after purchasing an additional 4,000 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Texas Pacific Land by 6.2% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,262 shares of the financial services provider’s stock valued at $1,063,000 after purchasing an additional 191 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on TPL. Zacks Research upgraded shares of Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Texas Pacific Land from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Texas Pacific Land presently has an average rating of “Moderate Buy” and an average target price of $639.00.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock opened at $272.72 on Monday. The business has a 50 day moving average price of $345.85 and a 200 day moving average price of $399.98. The company has a market capitalization of $18.81 billion, a P/E ratio of 32.05 and a beta of 0.58. Texas Pacific Land Corporation has a 1 year low of $265.31 and a 1 year high of $547.20.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.09. Texas Pacific Land had a return on equity of 36.22% and a net margin of 60.71%. The company had revenue of $273.40 million during the quarter, compared to analysts’ expectations of $251.00 million. As a group, research analysts expect that Texas Pacific Land Corporation will post 8.88 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, December 1st. Texas Pacific Land’s dividend payout ratio (DPR) is currently 28.20%.

Texas Pacific Land Profile

Texas Pacific Land Corporation is a land and resource management company focused on properties in West Texas, particularly the Permian Basin. Its roots date to the Texas and Pacific Railway, and the company’s land holdings were historically managed through the Texas Pacific Land Trust before it became a corporation.

The company earns revenue from oil and natural gas royalties and from activities tied to its surface and mineral interests. Its land and resource management operations include leasing land, granting easements and rights-of-way, and supporting energy development and other land uses.

Texas Pacific Land also provides water-related services to energy companies, including water sourcing, handling, treatment, recycling and disposal.