Texas Pacific Land Corporation $TPL is One Charles Private Wealth Services LLC's 3rd Largest Position

Key Points

• One Charles Private Wealth Services LLC boosted its Texas Pacific Land stake by 195.5% in the fourth quarter, making TPL its 3rd largest holding. The firm now owns 76,205 shares valued at about $21.9 million.
• Other institutions also increased exposure to the stock, and hedge funds and other institutional investors own 59.94% of Texas Pacific Land. That suggests continued strong interest from professional investors.
• The company recently beat earnings expectations, reporting $2.07 EPS versus the $2.03 estimate, and it also declared a quarterly dividend of $0.60. Analysts currently view the stock as a Moderate Buy with a $639 price target.

One Charles Private Wealth Services LLC increased its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 195.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,205 shares of the financial services provider's stock after purchasing an additional 50,418 shares during the quarter. Texas Pacific Land makes up 5.7% of One Charles Private Wealth Services LLC's portfolio, making the stock its 3rd biggest holding. One Charles Private Wealth Services LLC owned approximately 0.11% of Texas Pacific Land worth $21,888,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Plan A Wealth LLC grew its position in shares of Texas Pacific Land by 200.0% during the fourth quarter. Plan A Wealth LLC now owns 5,175 shares of the financial services provider's stock worth $1,486,000 after purchasing an additional 3,450 shares in the last quarter. Griffin Asset Management Inc. purchased a new stake in shares of Texas Pacific Land during the fourth quarter worth about $554,000. Motco grew its stake in Texas Pacific Land by 195.5% during the fourth quarter. Motco now owns 3,744 shares of the financial services provider's stock valued at $1,075,000 after acquiring an additional 2,477 shares in the last quarter. IFP Advisors Inc grew its stake in Texas Pacific Land by 185.3% during the fourth quarter. IFP Advisors Inc now owns 97 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 63 shares in the last quarter. Finally, Mad River Investors grew its stake in Texas Pacific Land by 203.1% during the fourth quarter. Mad River Investors now owns 286,083 shares of the financial services provider's stock valued at $82,169,000 after acquiring an additional 191,711 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. 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. KeyCorp raised their target price 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. 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. Finally, Zacks Research raised shares of Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $639.00.

Texas Pacific Land Price Performance

NYSE TPL opened at $397.60 on Friday. The stock has a market capitalization of $27.42 billion, a PE ratio of 54.47 and a beta of 0.66. The business has a 50 day simple moving average of $449.80 and a two-hundred day simple moving average of $386.95. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share 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 business had revenue of $236.80 million during the quarter, compared to analysts' expectations of $233.00 million. On average, analysts anticipate that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be 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 of this dividend is Monday, June 1st. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.88%.

Insiders Place Their Bets

In other Texas Pacific Land news, Director Donna E. Epps acquired 895 shares of the company's stock in a transaction on Wednesday, February 25th. The stock was acquired at an average cost of $510.45 per share, with a total value of $456,852.75. Following the purchase, the director directly owned 2,921 shares of the company's stock, valued at approximately $1,491,024.45. This represents a 44.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total value 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 approximately $1,072,899. This trade represents a 42.98% decrease in their position. The SEC filing for this sale provides additional information. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.