Pittenger & Anderson Inc. trimmed its stake in shares of Texas Pacific Land Corporation (NYSE:TPL – Free Report) by 3.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,117 shares of the financial services provider’s stock after selling 162 shares during the period. Pittenger & Anderson Inc.’s holdings in Texas Pacific Land were worth $4,349,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Riversedge Advisors LLC grew its stake in Texas Pacific Land by 2.2% during the first quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider’s stock valued at $490,000 after acquiring an additional 8 shares in the last quarter. Allworth Financial LP grew its stake in Texas Pacific Land by 42.1% during the first 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. Hemington Wealth Management grew its stake in 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 acquiring an additional 8 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake 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 valued at $2,773,000 after acquiring an additional 9 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in Texas Pacific Land by 5.0% during the first quarter. Meeder Advisory Services Inc. now owns 211 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 10 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.
Texas Pacific Land Stock Down 0.2%
Shares of NYSE:TPL opened at $937.07 on Tuesday. Texas Pacific Land Corporation has a 52 week low of $845.56 and a 52 week high of $1,769.14. The stock has a market capitalization of $21.53 billion, a P/E ratio of 46.71 and a beta of 1.12. The firm has a fifty day simple moving average of $919.39 and a two-hundred day simple moving average of $1,067.41.
Texas Pacific Land (NYSE:TPL – Get Free Report) last issued 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). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.The business had revenue of $187.54 million during the quarter, compared to analysts’ expectations of $198.00 million.
Texas Pacific Land Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 31.90%.
Insider Activity at Texas Pacific Land
In other Texas Pacific Land news, Director Eric L. Oliver acquired 100 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was acquired at an average cost of $881.27 per share, with a total value 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 represents a 0.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.90% of the stock is owned by insiders.
Texas Pacific Land 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.
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