Texas Pacific Land Corporation $TPL Shares Sold by One Charles Private Wealth Services LLC

Key Points

• One Charles Private Wealth Services reduced its Texas Pacific Land stake by 6.4% in the second quarter, selling 4,867 shares and retaining 70,698 shares worth approximately $30.94 million.
• Institutional investors and hedge funds own 59.94% of TPL. Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $639.
• TPL shares opened at $382.39, while the company reported quarterly EPS of $2.23, exceeding estimates, and declared a $0.60 quarterly dividend, equivalent to a 0.6% annualized yield.

One Charles Private Wealth Services LLC reduced its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 6.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,698 shares of the financial services provider's stock after selling 4,867 shares during the period. Texas Pacific Land makes up approximately 7.1% of One Charles Private Wealth Services LLC's portfolio, making the stock its 2nd biggest position. One Charles Private Wealth Services LLC owned about 0.10% of Texas Pacific Land worth $30,940,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. California State Teachers Retirement System raised its stake in shares of Texas Pacific Land by 39,712.8% in the 2nd quarter. California State Teachers Retirement System now owns 94,456,716 shares of the financial services provider's stock valued at $41,338,037,000 after acquiring an additional 94,219,464 shares during the period. Horizon Kinetics Asset Management LLC boosted its position in shares of Texas Pacific Land by 194.9% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 10,333,762 shares of the financial services provider's stock worth $2,968,063,000 after purchasing an additional 6,829,070 shares during the period. State Street Corp increased its holdings in Texas Pacific Land by 206.8% in the 4th quarter. State Street Corp now owns 3,587,004 shares of the financial services provider's stock valued at $1,030,259,000 after purchasing an additional 2,417,705 shares during the last quarter. Geode Capital Management LLC increased its holdings in Texas Pacific Land by 203.7% in the 4th quarter. Geode Capital Management LLC now owns 1,759,107 shares of the financial services provider's stock valued at $503,581,000 after purchasing an additional 1,179,788 shares during the last quarter. Finally, SoftVest Advisors LLC raised its position in Texas Pacific Land by 200.0% in the fourth quarter. SoftVest Advisors LLC now owns 1,180,800 shares of the financial services provider's stock valued at $339,149,000 after purchasing an additional 787,200 shares during the period. Institutional investors and hedge funds own 59.94% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Weiss Ratings restated a "hold (c+)" rating on shares of Texas Pacific Land in a research note on Wednesday, July 29th. Zacks Research raised Texas Pacific Land from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 29th. One investment 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 MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $639.00.

Texas Pacific Land Stock Performance

NYSE TPL opened at $382.39 on Wednesday. The firm has a 50 day simple moving average of $385.99 and a 200-day simple moving average of $421.44. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The firm has a market cap of $26.37 billion, a price-to-earnings ratio of 48.73 and a beta of 0.61.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.05. The firm had revenue of $246.10 million for the quarter, compared to the consensus estimate of $249.50 million. Texas Pacific Land had a net margin of 60.32% and a return on equity of 35.76%. Equities analysts predict that Texas Pacific Land Corporation will post 8.88 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 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 currently 30.57%.

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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