Machina Capital S.A.S. Buys 489 Shares of Texas Pacific Land Corporation $TPL

Machina Capital S.A.S. lifted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 239.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 693 shares of the financial services provider’s stock after acquiring an additional 489 shares during the period. Machina Capital S.A.S.’s holdings in Texas Pacific Land were worth $732,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Riversedge Advisors LLC boosted 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 worth $490,000 after acquiring an additional 8 shares during the period. Allworth Financial LP boosted its holdings in shares of Texas Pacific Land by 42.1% in the first 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 period. Hemington Wealth Management boosted its holdings in shares of Texas Pacific Land by 66.7% in the first 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 period. Meeder Advisory Services Inc. boosted its holdings in shares of Texas Pacific Land by 5.0% in the first 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 period. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of Texas Pacific Land by 2.2% in the first quarter. Chicago Partners Investment Group LLC now owns 461 shares of the financial services provider’s stock worth $619,000 after acquiring an additional 10 shares during the period. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $925.45 on Tuesday. Texas Pacific Land Corporation has a 52-week low of $845.56 and a 52-week high of $1,769.14. The company has a market capitalization of $21.27 billion, a PE ratio of 46.13 and a beta of 1.12. The business’s fifty day moving average is $927.04 and its 200 day moving average is $1,045.87.

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 (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $187.54 million for the quarter, compared to the consensus estimate of $198.00 million.

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 stock was purchased at an average price 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 6.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TPL. Tudor Pickering upgraded Texas Pacific Land to a “strong sell” rating in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Texas Pacific Land currently has an average rating of “Reduce”.

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.