Resurgent Financial Advisors LLC Buys 5,380 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Resurgent Financial Advisors boosted its Texas Pacific Land stake by 200% in Q4, buying 5,380 more shares and raising its total to 8,070 shares valued at about $2.32 million.
• Texas Pacific Land reported solid quarterly results, with EPS of $2.07 beating estimates and revenue of $236.8 million topping forecasts; the company also posted strong margins and ROE.
• Shareholder returns and sentiment were mixed: the company declared a $0.60 quarterly dividend, while analysts currently rate the stock a “Hold” overall and CFO Chris Steddum recently sold 3,170 shares under a pre-arranged trading plan.

Resurgent Financial Advisors LLC increased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 200.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,070 shares of the financial services provider's stock after acquiring an additional 5,380 shares during the quarter. Texas Pacific Land comprises about 1.2% of Resurgent Financial Advisors LLC's portfolio, making the stock its 16th largest holding. Resurgent Financial Advisors LLC's holdings in Texas Pacific Land were worth $2,318,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bar Harbor Wealth Management raised its stake in Texas Pacific Land by 195.1% during the fourth quarter. Bar Harbor Wealth Management now owns 36,873 shares of the financial services provider's stock valued at $10,591,000 after purchasing an additional 24,379 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in Texas Pacific Land by 212.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 18,211 shares of the financial services provider's stock valued at $5,231,000 after purchasing an additional 12,390 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Texas Pacific Land by 200.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 9,450 shares of the financial services provider's stock valued at $2,714,000 after purchasing an additional 6,307 shares in the last quarter. Schwartz Investment Counsel Inc. raised its stake in Texas Pacific Land by 209.7% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 475,104 shares of the financial services provider's stock valued at $136,459,000 after purchasing an additional 321,683 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in Texas Pacific Land by 184.1% during the fourth quarter. New York State Teachers Retirement System now owns 38,841 shares of the financial services provider's stock valued at $11,156,000 after purchasing an additional 25,170 shares in the last quarter. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

TPL opened at $369.53 on Friday. The stock has a market cap of $25.49 billion, a price-to-earnings ratio of 50.62 and a beta of 0.61. The stock's 50 day moving average price is $411.32 and its 200-day moving average price is $394.70. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.04. The firm had revenue of $236.80 million for the quarter, compared to analysts' expectations of $233.00 million. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%. As a group, analysts predict that Texas Pacific Land Corporation will post 8.88 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.6%. Texas Pacific Land's dividend payout ratio is presently 32.88%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a research note on Sunday, March 15th. Zacks Research downgraded shares of Texas Pacific Land from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 1st. KeyCorp upped their price target 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. Finally, Weiss Ratings raised shares of Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Texas Pacific Land currently has a consensus rating of "Hold" and an average target price of $639.00.

Insider Activity at Texas Pacific Land

In other news, CFO Chris Steddum sold 3,170 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $400.25, for a total value of $1,268,792.50. Following the transaction, the chief financial officer directly owned 12,870 shares in the company, valued at approximately $5,151,217.50. This represents a 19.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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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