Atlas Wealth Partners LLC Raises Stock Position in Texas Pacific Land Corporation $TPL

Key Points

• Atlas Wealth Partners LLC boosted its stake in Texas Pacific Land by 198.7% in Q4 to 39,782 shares, making TPL its 2nd-largest holding (12.6% of the fund) and representing about $11.43 million (≈0.06% of TPL).
• Texas Pacific Land beat quarterly estimates (EPS $1.79 vs. $1.73 est.; revenue $211.6M vs. $204.0M), reported strong margins/ROE, and raised its quarterly dividend to $0.60 (annualized $2.40, yield ~0.6%).
• Analyst sentiment is a consensus "Hold" with a consensus target price of $639; KeyCorp notably raised its price objective from $350 to $639 and rated the stock "Overweight".

Atlas Wealth Partners LLC boosted its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 198.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,782 shares of the financial services provider's stock after purchasing an additional 26,463 shares during the period. Texas Pacific Land comprises 12.6% of Atlas Wealth Partners LLC's holdings, making the stock its 2nd biggest holding. Atlas Wealth Partners LLC owned approximately 0.06% of Texas Pacific Land worth $11,426,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its stake in Texas Pacific Land by 316.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,450 shares of the financial services provider's stock worth $417,000 after acquiring an additional 1,102 shares in the last quarter. Bridgewater Advisors Inc. grew its stake in Texas Pacific Land by 227.1% in the 4th quarter. Bridgewater Advisors Inc. now owns 749 shares of the financial services provider's stock worth $215,000 after acquiring an additional 520 shares in the last quarter. Sage Mountain Advisors LLC grew its stake in Texas Pacific Land by 211.3% in the 4th quarter. Sage Mountain Advisors LLC now owns 1,407 shares of the financial services provider's stock worth $404,000 after acquiring an additional 955 shares in the last quarter. Investment Advisory Group LLC grew its stake in Texas Pacific Land by 200.0% in the 4th quarter. Investment Advisory Group LLC now owns 2,904 shares of the financial services provider's stock worth $834,000 after acquiring an additional 1,936 shares in the last quarter. Finally, Patton Fund Management Inc. bought a new position in Texas Pacific Land in the 4th quarter worth about $214,000. 59.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TPL has been the topic of a number of research analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Texas Pacific Land in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a research note on Sunday, March 15th. Finally, KeyCorp increased their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $639.00.

Texas Pacific Land Stock Down 1.2%

NYSE:TPL opened at $411.94 on Wednesday. The firm has a 50 day moving average of $474.87 and a 200 day moving average of $368.44. The stock has a market capitalization of $28.40 billion, a price-to-earnings ratio of 59.05 and a beta of 0.76. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.06. The business had revenue of $211.60 million during the quarter, compared to analysts' expectations of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.60 dividend. This is an increase from Texas Pacific Land's previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 2nd. Texas Pacific Land's dividend payout ratio is 34.38%.

Insider Buying and Selling at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 1,608 shares of the firm's stock in a transaction 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 owned 2,133 shares of the company's stock, valued at $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. 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 Texas Pacific Land stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average cost of $510.45 per share, with a total value of $456,852.75. Following the acquisition, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. 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.

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