Lunt Capital Management Inc. trimmed its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL – Free Report) by 28.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,506 shares of the financial services provider’s stock after selling 5,400 shares during the period. Texas Pacific Land comprises 1.7% of Lunt Capital Management Inc.’s investment portfolio, making the stock its 20th biggest holding. Lunt Capital Management Inc.’s holdings in Texas Pacific Land were worth $4,401,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. SwitchPoint Financial Planning LLC boosted its stake in shares of Texas Pacific Land by 2.2% in the first quarter. SwitchPoint Financial Planning LLC now owns 1,158 shares of the financial services provider’s stock valued at $550,000 after buying an additional 25 shares in the last quarter. Atria Investments Inc grew its holdings in Texas Pacific Land by 2.3% during the second quarter. Atria Investments Inc now owns 1,133 shares of the financial services provider’s stock worth $496,000 after acquiring an additional 26 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Texas Pacific Land by 8.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 355 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 29 shares in the last quarter. TCW Group Inc. raised its position in Texas Pacific Land by 3.2% in the second quarter. TCW Group Inc. now owns 972 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 30 shares in the last quarter. Finally, Flagship Harbor Advisors LLC raised its position in Texas Pacific Land by 2.5% in the third quarter. Flagship Harbor Advisors LLC now owns 1,237 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 30 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.
Texas Pacific Land Trading Up 0.6%
Shares of NYSE:TPL opened at $331.99 on Wednesday. The firm has a market cap of $22.90 billion, a price-to-earnings ratio of 42.31 and a beta of 0.58. The stock’s 50-day moving average price is $351.47 and its two-hundred day moving average price is $400.80. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20.
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 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.05. The company had revenue of $246.10 million during 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%. As a group, research analysts forecast that Texas Pacific Land Corporation will post 8.88 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Zacks Research upgraded shares of Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research report 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 equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $639.00.
Read Our Latest Stock Analysis on Texas Pacific Land
Texas Pacific Land Profile
Texas Pacific Land Corporation (NYSE:TPL) is a land and resource management company focused on properties in West Texas, particularly the Permian Basin. The company owns approximately 850,000 acres of land and holds extensive oil and gas royalty interests, making it a significant participant in the region’s energy development.
Texas Pacific Land generates revenue through royalties on oil and natural gas produced from its acreage, as well as from land sales, easements, leases and other surface-related activities.
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