EagleClaw Capital Managment LLC Cuts Holdings in Texas Pacific Land Corporation $TPL

EagleClaw Capital Managment LLC lessened its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,127 shares of the financial services provider’s stock after selling 304 shares during the quarter. Texas Pacific Land makes up 7.4% of EagleClaw Capital Managment LLC’s portfolio, making the stock its biggest position. EagleClaw Capital Managment LLC owned 0.21% of Texas Pacific Land worth $49,784,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hemington Wealth Management increased its position 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 valued at $26,000 after purchasing an additional 8 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Texas Pacific Land during the first quarter valued at about $28,000. Allworth Financial LP raised its stake in 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 buying an additional 8 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in Texas Pacific Land by 237.5% in the first quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider’s stock worth $36,000 after buying an additional 19 shares during the period. Finally, IMA Advisory Services Inc. purchased a new stake in Texas Pacific Land in the first quarter worth about $36,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insider Transactions at Texas Pacific Land

In other news, Director Eric L. Oliver bought 100 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were purchased at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the purchase, the director owned 393,600 shares in the company, valued at approximately $346,867,872. This represents a 0.03% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TPL shares. Tudor Pickering upgraded 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 report on Tuesday. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Texas Pacific Land has an average rating of “Reduce”.

Texas Pacific Land Stock Up 1.8%

Shares of TPL opened at $1,006.99 on Thursday. The stock has a market cap of $23.14 billion, a P/E ratio of 50.20 and a beta of 1.12. The business’s 50 day moving average price is $934.11 and its 200-day moving average price is $1,031.23. 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 announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $5.27 earnings per share (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 company had revenue of $203.10 million for the quarter, compared to analysts’ expectations of $175.00 million.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, December 1st. Texas Pacific Land’s dividend payout ratio is 30.92%.

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.