Evelyn Partners Investment Management LLP Buys 3,470 Shares of Texas Pacific Land Corporation $TPL

Evelyn Partners Investment Management LLP lifted its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 200.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,205 shares of the financial services provider's stock after acquiring an additional 3,470 shares during the period. Evelyn Partners Investment Management LLP's holdings in Texas Pacific Land were worth $1,495,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TPL. EverSource Wealth Advisors LLC boosted its position in shares of Texas Pacific Land by 21.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider's stock worth $72,000 after purchasing an additional 12 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Texas Pacific Land by 9.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider's stock worth $160,000 after buying an additional 14 shares during the period. Northwestern Mutual Investment Management Company LLC raised its stake in Texas Pacific Land by 2.5% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 616 shares of the financial services provider's stock worth $575,000 after buying an additional 15 shares during the period. Bridgewater Advisors Inc. boosted its holdings in Texas Pacific Land by 7.0% in the third quarter. Bridgewater Advisors Inc. now owns 229 shares of the financial services provider's stock worth $232,000 after acquiring an additional 15 shares in the last quarter. Finally, Aptus Capital Advisors LLC grew its stake in Texas Pacific Land by 1.6% in the third quarter. Aptus Capital Advisors LLC now owns 969 shares of the financial services provider's stock valued at $905,000 after acquiring an additional 15 shares during the period. 59.94% of the stock is owned by institutional investors.

Insider Activity at Texas Pacific Land

In related news, CFO Chris Steddum sold 830 shares of the business's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $400.33, for a total transaction of $332,273.90. Following the transaction, the chief financial officer directly owned 12,040 shares in the company, valued at approximately $4,819,973.20. The trade was a 6.45% decrease in their ownership of the stock. The transaction 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. 6.90% of the stock is currently owned by corporate insiders.

Texas Pacific Land Stock Performance

Shares of TPL opened at $379.00 on Monday. The firm has a market capitalization of $26.14 billion, a P/E ratio of 51.92 and a beta of 0.61. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20. The stock has a 50 day moving average price of $410.12 and a two-hundred day moving average price of $395.31.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $236.80 million for the quarter, compared to analysts' expectations of $233.00 million. On average, equities analysts forecast that Texas Pacific Land Corporation will post 8.88 earnings per share for the current year.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.60 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. Texas Pacific Land's dividend payout ratio is currently 32.88%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TPL shares. Wall Street Zen upgraded Texas Pacific Land from a "sell" rating to a "hold" rating in a report on Sunday, March 15th. KeyCorp increased their target price on Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Weiss Ratings upgraded shares of Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 1st. Finally, Zacks Research downgraded shares of Texas Pacific Land from a "strong-buy" rating to a "hold" rating in a report on Monday, June 1st. One 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 stock. According to data from MarketBeat, Texas Pacific Land presently has a consensus rating of "Hold" and an average price target of $639.00.

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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