RWA Wealth Partners LLC Has $25.06 Million Stake in Texas Pacific Land Corporation $TPL

RWA Wealth Partners LLC increased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 42.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,724 shares of the financial services provider’s stock after purchasing an additional 7,125 shares during the quarter. RWA Wealth Partners LLC owned approximately 0.10% of Texas Pacific Land worth $25,062,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Texas Pacific Land by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider’s stock valued at $3,267,588,000 after purchasing an additional 115,743 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Texas Pacific Land by 2.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 183,485 shares of the financial services provider’s stock valued at $243,116,000 after purchasing an additional 3,850 shares during the last quarter. Schwartz Investment Counsel Inc. grew its position in Texas Pacific Land by 2.1% during the second quarter. Schwartz Investment Counsel Inc. now owns 154,033 shares of the financial services provider’s stock worth $162,719,000 after buying an additional 3,210 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Texas Pacific Land by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 126,347 shares of the financial services provider’s stock valued at $167,386,000 after purchasing an additional 2,623 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Texas Pacific Land by 1,104.4% during the 2nd quarter. TD Asset Management Inc now owns 96,123 shares of the financial services provider’s stock valued at $101,543,000 after acquiring an additional 88,142 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Texas Pacific Land

In related news, Director Eric L. Oliver acquired 100 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were bought at an average price of $881.27 per share, for a total transaction of $88,127.00. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.90% of the company’s stock.

Texas Pacific Land Trading Down 3.0%

TPL stock opened at $980.89 on Friday. Texas Pacific Land Corporation has a 1-year low of $845.56 and a 1-year high of $1,769.14. The firm has a market cap of $22.54 billion, a PE ratio of 48.90 and a beta of 1.12. The business’s 50-day moving average price is $930.09 and its two-hundred day moving average price is $1,040.23.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.77 by ($0.50). Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%. The firm had revenue of $203.10 million during the quarter, compared to the consensus estimate of $175.00 million.

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, December 1st. Texas Pacific Land’s dividend payout ratio is presently 31.90%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Tudor Pickering raised shares of Texas Pacific Land to a “strong sell” rating in a 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 equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Texas Pacific Land presently has a consensus rating of “Reduce”.

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.