Brave Asset Management Inc. Lowers Position in Texas Pacific Land Corporation $TPL

Brave Asset Management Inc. lessened its stake in Texas Pacific Land Corporation (NYSE:TPL) by 50.3% during the second quarter, Holdings Channel reports. The firm owned 267 shares of the financial services provider’s stock after selling 270 shares during the period. Brave Asset Management Inc.’s holdings in Texas Pacific Land were worth $282,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of TPL. Allworth Financial LP lifted its stake in Texas Pacific Land by 42.1% during the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 8 shares in the last quarter. Riversedge Advisors LLC raised its holdings in shares of Texas Pacific Land by 2.2% in the first quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 8 shares during the last quarter. Hemington Wealth Management lifted its position in shares of Texas Pacific Land by 66.7% during the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 8 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Texas Pacific Land by 13.0% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 9 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Texas Pacific Land by 0.4% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,093 shares of the financial services provider’s stock worth $2,773,000 after purchasing an additional 9 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $927.04 on Friday. Texas Pacific Land Corporation has a 52 week low of $845.56 and a 52 week high of $1,769.14. The firm has a 50-day moving average price of $923.10 and a two-hundred day moving average price of $1,115.67. The firm has a market cap of $21.31 billion, a price-to-earnings ratio of 46.21 and a beta of 1.19.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.48 by ($0.43). The business had revenue of $187.54 million during the quarter, compared to the consensus estimate of $198.00 million. Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 31.90%.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of the stock in a transaction dated Thursday, August 21st. The shares were bought at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the purchase, the director directly owned 393,600 shares of the company’s stock, valued at approximately $346,867,872. This trade represents a 0.03% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.50% of the stock is owned by insiders.

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.