Curated Wealth Partners LLC Buys 5,532 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Curated Wealth Partners LLC increased its TPL stake by 200%, purchasing 5,532 shares to hold 8,298 shares worth about $2.38 million (≈0.3% of its portfolio), making TPL its 28th largest position.
• Texas Pacific Land trades around $534.91 with a market cap of $36.88 billion and a P/E of 76.67, and it raised its quarterly dividend to $0.60 (annualized $2.40, yield ~0.4%, payout ratio 34.38%).
• About 59.9% of TPL is institutionally owned

Curated Wealth Partners LLC boosted its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 200.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,298 shares of the financial services provider's stock after purchasing an additional 5,532 shares during the period. Texas Pacific Land comprises about 0.3% of Curated Wealth Partners LLC's investment portfolio, making the stock its 28th biggest position. Curated Wealth Partners LLC's holdings in Texas Pacific Land were worth $2,383,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Texas Pacific Land by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,581,228 shares of the financial services provider's stock valued at $2,409,938,000 after acquiring an additional 189,842 shares during the period. Epoch Investment Partners Inc. bought a new stake in Texas Pacific Land during the 2nd quarter worth approximately $92,167,000. Danske Bank A S bought a new stake in Texas Pacific Land during the 3rd quarter worth approximately $52,606,000. AQR Capital Management LLC lifted its holdings in Texas Pacific Land by 65.1% during the third quarter. AQR Capital Management LLC now owns 90,589 shares of the financial services provider's stock valued at $84,578,000 after purchasing an additional 35,716 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Texas Pacific Land by 100.4% during the third quarter. Bank of America Corp DE now owns 62,723 shares of the financial services provider's stock valued at $58,561,000 after purchasing an additional 31,417 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Up 1.3%

Shares of Texas Pacific Land stock opened at $534.91 on Wednesday. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The business has a 50-day moving average price of $441.33 and a 200-day moving average price of $353.02. The firm has a market cap of $36.88 billion, a price-to-earnings ratio of 76.67 and a beta of 0.83.

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

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a dividend of $0.60 per share. The ex-dividend date was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from Texas Pacific Land's previous quarterly dividend of $0.53. Texas Pacific Land's dividend payout ratio is currently 34.38%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. KeyCorp raised 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 report on Monday, February 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Texas Pacific Land in a report on Monday, December 29th. Finally, Zacks Research upgraded Texas Pacific Land to a "hold" rating in a research note on Wednesday, December 3rd. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $639.00.

Insider Buying and Selling

In other Texas Pacific Land news, Director Donna E. Epps bought 895 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $510.45 per share, with a total value of $456,852.75. Following the completion of the acquisition, the director owned 2,921 shares in the company, valued at $1,491,024.45. This trade represents a 44.18% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of the business's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total transaction of $808,824.00. Following the completion of the sale, the chief accounting officer owned 2,133 shares in the company, valued at $1,072,899. This represents a 42.98% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.90% of the stock is currently owned by corporate insiders.

Texas Pacific Land Company 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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