Wealth Enhancement Advisory Services LLC Grows Position in Texas Pacific Land Co. (NYSE:TPL)

Wealth Enhancement Advisory Services LLC grew its position in Texas Pacific Land Co. (NYSE:TPL) by 559.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,242 shares of the financial services provider’s stock after purchasing an additional 7,840 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Texas Pacific Land were worth $5,346,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its stake in Texas Pacific Land by 315.4% during the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock worth $31,000 after buying an additional 41 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Texas Pacific Land during the 4th quarter worth $36,000. IFS Advisors LLC increased its holdings in Texas Pacific Land by 200.0% in the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 44 shares in the last quarter. Halpern Financial Inc. increased its holdings in Texas Pacific Land by 200.0% in the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 50 shares in the last quarter. Finally, CVA Family Office LLC purchased a new position in Texas Pacific Land in the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Analyst Ratings Changes

TPL has been the subject of a number of recent research reports. StockNews.com lowered Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. BWS Financial reaffirmed a “buy” rating and issued a $917.00 price objective on shares of Texas Pacific Land in a research report on Friday, May 10th.

Texas Pacific Land Stock Performance

Shares of NYSE TPL opened at $724.75 on Tuesday. Texas Pacific Land Co. has a 1 year low of $429.56 and a 1 year high of $799.46. The stock’s 50-day simple moving average is $646.39 and its 200-day simple moving average is $571.67. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 38.53 and a beta of 1.63.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.58 by $0.39. Texas Pacific Land had a return on equity of 43.16% and a net margin of 65.74%. The company had revenue of $174.14 million for the quarter, compared to analyst estimates of $158.20 million. As a group, research analysts predict that Texas Pacific Land Co. will post 21.2 EPS for the current year.

Texas Pacific Land Announces Dividend

The business also recently disclosed a None dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $10.00 per share. The ex-dividend date of this dividend is Monday, July 1st. Texas Pacific Land’s dividend payout ratio is currently 24.88%.

About Texas Pacific Land

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.