Cumberland Partners Ltd Sells 250 Shares of Texas Pacific Land Corporation $TPL

Cumberland Partners Ltd lessened its position in Texas Pacific Land Corporation (NYSE:TPL) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,250 shares of the financial services provider’s stock after selling 250 shares during the period. Cumberland Partners Ltd’s holdings in Texas Pacific Land were worth $2,377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Hemington Wealth Management grew its holdings in Texas Pacific Land by 66.7% during the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 8 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of Texas Pacific Land during the 1st quarter worth approximately $28,000. IMA Advisory Services Inc. bought a new stake in Texas Pacific Land in the 1st quarter valued at $36,000. GW&K Investment Management LLC lifted its holdings in Texas Pacific Land by 237.5% during the 1st quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 19 shares during the last quarter. Finally, Assetmark Inc. boosted its position in Texas Pacific Land by 50.0% during the first quarter. Assetmark Inc. now owns 39 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 13 shares during the period. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Down 1.4%

Texas Pacific Land 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 business’s 50-day moving average price is $938.71 and its 200 day moving average price is $1,018.43. The firm has a market cap of $20.85 billion, a price-to-earnings ratio of 45.22 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $5.27 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $175.00 million.

Texas Pacific Land Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a research report on Monday. Tudor Pickering upgraded Texas Pacific Land to a “strong sell” rating in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus 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.