Creekmur Asset Management LLC Decreases Stake in Texas Pacific Land Corporation $TPL

Creekmur Asset Management LLC reduced its stake in Texas Pacific Land Corporation (NYSE:TPL) by 11.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 452 shares of the financial services provider’s stock after selling 56 shares during the period. Creekmur Asset Management LLC’s holdings in Texas Pacific Land were worth $477,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of TPL. Hemington Wealth Management increased its stake in Texas Pacific Land by 66.7% in the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 8 shares during the period. Golden State Wealth Management LLC increased its stake in Texas Pacific Land by 110.0% in the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 11 shares during the period. Zions Bancorporation National Association UT purchased a new position in Texas Pacific Land in the 1st quarter worth approximately $28,000. Allworth Financial LP increased its stake in Texas Pacific Land by 42.1% in the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 8 shares during the period. Finally, GW&K Investment Management LLC increased its stake in Texas Pacific Land by 237.5% in the 1st quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 19 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TPL has been the topic of several research analyst reports. Tudor Pickering raised Texas Pacific Land to a “strong sell” rating in a research note on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Insiders Place Their Bets

In other news, Director Eric L. Oliver purchased 100 shares of Texas Pacific Land stock in a transaction that occurred on Thursday, August 21st. The shares were bought at an average cost of $881.27 per share, with a total value of $88,127.00. Following the completion of the purchase, the director directly owned 393,600 shares in the company, valued at approximately $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.90% of the stock is currently owned by insiders.

Texas Pacific Land Stock Up 0.5%

Shares of Texas Pacific Land stock opened at $929.20 on Friday. The company has a market cap of $21.35 billion, a PE ratio of 46.32 and a beta of 1.12. The business has a 50 day moving average of $925.81 and a 200 day moving average of $1,053.63. Texas Pacific Land Corporation has a 52 week low of $845.56 and a 52 week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing the consensus estimate of $5.48 by ($0.43). The firm had revenue of $187.54 million during the quarter, compared to analysts’ expectations 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. Investors of record on Tuesday, September 2nd were paid a $1.60 dividend. 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 presently 31.90%.

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.