Creative Planning Has $7.30 Million Position in Texas Pacific Land Corporation $TPL

Creative Planning lessened its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 7.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,912 shares of the financial services provider’s stock after selling 557 shares during the quarter. Creative Planning’s holdings in Texas Pacific Land were worth $7,301,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Texas Pacific Land by 4.9% in the first quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider’s stock valued at $3,267,588,000 after acquiring an additional 115,743 shares during the period. Geode Capital Management LLC boosted its holdings in Texas Pacific Land by 3.9% during the second quarter. Geode Capital Management LLC now owns 605,760 shares of the financial services provider’s stock valued at $648,866,000 after purchasing an additional 22,796 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Texas Pacific Land by 2.1% in 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 period. Schwartz Investment Counsel Inc. raised its holdings in shares of Texas Pacific Land by 2.1% in the 2nd 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. Finally, Dimensional Fund Advisors LP lifted its position in shares of Texas Pacific Land by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 126,347 shares of the financial services provider’s stock worth $167,386,000 after buying an additional 2,623 shares during the period. 59.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TPL. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Monday. Tudor Pickering upgraded shares of Texas Pacific Land to a “strong sell” rating in a research note 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 company’s stock. Based on data from MarketBeat, Texas Pacific Land has a consensus rating of “Reduce”.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $907.13 on Thursday. Texas Pacific Land Corporation has a 52 week low of $845.56 and a 52 week high of $1,769.14. The stock has a market capitalization of $20.85 billion, a PE ratio of 45.22 and a beta of 1.12. The stock’s fifty day moving average is $938.71 and its 200-day moving average is $1,018.43.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results 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). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.The company had revenue of $203.10 million for the quarter, compared to analyst estimates of $175.00 million.

Texas Pacific Land Dividend Announcement

The business 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 $1.60 dividend. 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 payout ratio is 30.92%.

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.