Farther Finance Advisors LLC Buys 3,662 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Farther Finance Advisors increased its Texas Pacific Land stake by 150.3% in the third quarter, acquiring 3,662 additional shares for a total holding of 6,098 shares valued at approximately $1.99 million.
• Institutional ownership remains significant, with hedge funds and other institutional investors holding 59.94% of TPL’s stock. The shares opened at $369.28, with a market capitalization of $25.47 billion.
• Texas Pacific Land reported quarterly EPS of $2.23, exceeding analyst expectations, and declared a quarterly dividend of $0.60, equivalent to a 0.6% annualized yield. Analysts’ consensus rating is “Hold,” with a target price of $639.

Farther Finance Advisors LLC boosted its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 150.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,098 shares of the financial services provider's stock after acquiring an additional 3,662 shares during the period. Farther Finance Advisors LLC's holdings in Texas Pacific Land were worth $1,987,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE raised its position in Texas Pacific Land by 143.0% in the first quarter. Bank of America Corp DE now owns 264,740 shares of the financial services provider's stock worth $125,635,000 after acquiring an additional 155,781 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Texas Pacific Land by 42.5% during the 2nd quarter. NewEdge Advisors LLC now owns 40,904 shares of the financial services provider's stock valued at $17,901,000 after acquiring an additional 12,207 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Texas Pacific Land by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 357,379 shares of the financial services provider's stock valued at $169,598,000 after acquiring an additional 4,570 shares in the last quarter. Clare Market Investments LLC acquired a new position in Texas Pacific Land during the first quarter worth about $14,429,000. Finally, Swiss National Bank raised its position in Texas Pacific Land by 7.1% during the first quarter. Swiss National Bank now owns 171,973 shares of the financial services provider's stock worth $81,612,000 after acquiring an additional 11,440 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Up 1.1%

NYSE TPL opened at $369.28 on Wednesday. The stock has a market cap of $25.47 billion, a PE ratio of 47.06 and a beta of 0.58. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20. The business has a 50 day moving average price of $358.64 and a two-hundred day moving average price of $391.26.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.18 by $0.05. Texas Pacific Land had a net margin of 60.32% and a return on equity of 35.76%. The company had revenue of $246.10 million for the quarter, compared to analyst estimates of $249.50 million. Sell-side analysts anticipate that Texas Pacific Land Corporation will post 8.88 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, September 1st. Texas Pacific Land's payout ratio is 30.57%.

Analyst Ratings Changes

TPL has been the topic of several analyst reports. Zacks Research raised shares of Texas Pacific Land from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 29th. Weiss Ratings raised shares of Texas Pacific Land from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Texas Pacific Land has an average rating of "Hold" and a consensus target price of $639.00.

Texas Pacific Land Profile

Texas Pacific Land Corporation NYSE: TPL is a land and resource management company focused on properties and mineral interests in Texas. The company traces its history to the Texas and Pacific Railway, for which the Texas Pacific Land Trust was established in 1888. It was later reorganized as a corporation in 2021.

Texas Pacific Land owns more than 800,000 acres, primarily in West Texas, including substantial holdings in the Permian Basin. Its operations include managing land, granting easements and rights-of-way, and leasing acreage for uses such as oil and gas development, pipelines, power transmission, and other infrastructure.

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