North Point Portfolio Managers Corp OH Cuts Stock Position in Texas Pacific Land Corporation $TPL

North Point Portfolio Managers Corp OH cut its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 1.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,107 shares of the financial services provider’s stock after selling 221 shares during the quarter. Texas Pacific Land accounts for 2.2% of North Point Portfolio Managers Corp OH’s investment portfolio, making the stock its 22nd largest position. North Point Portfolio Managers Corp OH owned about 0.05% of Texas Pacific Land worth $12,790,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hemington Wealth Management increased its position in shares of Texas Pacific Land by 66.7% in the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider’s stock valued at $26,000 after buying an additional 8 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Texas Pacific Land by 110.0% in the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider’s stock valued at $28,000 after buying an additional 11 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Texas Pacific Land in the first quarter valued at approximately $28,000. Allworth Financial LP increased its position in shares of Texas Pacific Land by 42.1% in the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider’s stock valued at $36,000 after buying an additional 8 shares in the last quarter. Finally, GW&K Investment Management LLC increased its position in shares of 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 valued at $36,000 after buying an additional 19 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $937.81 on Monday. The business’s 50 day moving average price is $917.75 and its 200-day moving average price is $1,068.39. The firm has a market capitalization of $21.55 billion, a PE ratio of 46.75 and a beta of 1.12. Texas Pacific Land Corporation has a 1 year low of $845.56 and a 1 year high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.48 by ($0.43). The firm had revenue of $187.54 million during the quarter, compared to analyst estimates of $198.00 million. Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $1.60 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. Texas Pacific Land’s payout ratio is currently 31.90%.

Insiders Place Their Bets

In related news, Director Eric L. Oliver acquired 100 shares of the stock in a transaction on Thursday, August 21st. The shares were bought at an average price of $881.27 per share, with a total value of $88,127.00. Following the completion of the purchase, the director owned 393,600 shares of the company’s stock, valued at approximately $346,867,872. This represents a 0.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.90% of the company’s stock.

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.