Texas Pacific Land Corporation $TPL Shares Acquired by Titleist Asset Management LLC

Titleist Asset Management LLC lifted its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 262.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,573 shares of the financial services provider’s stock after buying an additional 1,139 shares during the quarter. Titleist Asset Management LLC’s holdings in Texas Pacific Land were worth $1,662,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TPL. Harvest Fund Management Co. Ltd lifted its stake in shares of Texas Pacific Land by 338.3% in the first quarter. Harvest Fund Management Co. Ltd now owns 526 shares of the financial services provider’s stock valued at $696,000 after purchasing an additional 406 shares during the period. Brooklyn Investment Group increased its holdings in Texas Pacific Land by 3,246.7% in the first quarter. Brooklyn Investment Group now owns 502 shares of the financial services provider’s stock valued at $665,000 after buying an additional 487 shares in the last quarter. Strategy Asset Managers LLC purchased a new position in Texas Pacific Land in the first quarter valued at about $576,000. ASR Vermogensbeheer N.V. purchased a new stake in shares of Texas Pacific Land during the 1st quarter worth approximately $16,297,000. Finally, Jump Financial LLC boosted its stake in shares of Texas Pacific Land by 151.6% during the 1st quarter. Jump Financial LLC now owns 561 shares of the financial services provider’s stock worth $743,000 after acquiring an additional 338 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL opened at $897.67 on Friday. The business’s fifty day moving average price is $936.79 and its two-hundred day moving average price is $1,012.25. The stock has a market cap of $20.63 billion, a PE ratio of 44.75 and a beta of 1.12. Texas Pacific Land Corporation has a one year low of $845.56 and a one year high of $1,769.14.

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

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, December 1st. Texas Pacific Land’s dividend payout ratio (DPR) is currently 30.92%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TPL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research note on Monday, November 17th. Tudor Pickering raised Texas Pacific Land to a “strong sell” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

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.