Vest Financial LLC Has $765,000 Stock Position in Texas Pacific Land Corporation $TPL

Vest Financial LLC lowered its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 60.0% in the second quarter, HoldingsChannel reports. The firm owned 724 shares of the financial services provider’s stock after selling 1,085 shares during the period. Vest Financial LLC’s holdings in Texas Pacific Land were worth $765,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP boosted 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 worth $36,000 after acquiring an additional 8 shares during the last quarter. Riversedge Advisors LLC boosted its stake in Texas Pacific Land by 2.2% during the 1st quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 8 shares during the last quarter. Hemington Wealth Management boosted its stake in Texas Pacific Land by 66.7% during the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 8 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Texas Pacific Land by 0.4% during the 1st 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 acquiring an additional 9 shares during the last quarter. Finally, Meeder Advisory Services Inc. boosted its stake in Texas Pacific Land by 5.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 211 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 10 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 2.2%

Shares of TPL stock opened at $927.32 on Thursday. The company’s fifty day simple moving average is $914.95 and its 200-day simple moving average is $1,077.25. The firm has a market cap of $21.31 billion, a PE ratio of 46.23 and a beta of 1.12. Texas Pacific Land Corporation has a 12 month low of $845.56 and a 12 month high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 39.47% and a net margin of 62.16%.

Texas Pacific Land Announces Dividend

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

Insider Transactions at Texas Pacific Land

In other news, Director Eric L. Oliver purchased 100 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were purchased at an average cost of $881.27 per share, with a total value of $88,127.00. Following the completion of the transaction, the director owned 393,600 shares of the company’s stock, valued at $346,867,872. The trade was a 0.03% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research note on Tuesday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Texas Pacific Land currently has a consensus rating of “Hold”.

Texas Pacific Land Company Profile

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.