Fielder Capital Group LLC Has $13.59 Million Stake in Texas Pacific Land Corporation $TPL

Fielder Capital Group LLC trimmed its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,863 shares of the financial services provider’s stock after selling 22 shares during the quarter. Texas Pacific Land comprises 3.6% of Fielder Capital Group LLC’s portfolio, making the stock its 5th largest holding. Fielder Capital Group LLC owned about 0.06% of Texas Pacific Land worth $13,588,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hemington Wealth Management grew its holdings in Texas Pacific Land by 66.7% in the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider’s stock worth $26,000 after buying an additional 8 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in Texas Pacific Land by 110.0% in the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider’s stock worth $28,000 after buying an additional 11 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Texas Pacific Land in the 1st quarter worth approximately $28,000. Allworth Financial LP grew its holdings in Texas Pacific Land by 42.1% in the 1st 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. Finally, GW&K Investment Management LLC grew its holdings in Texas Pacific Land by 237.5% in the 1st 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 in the last quarter. 59.94% of the stock is owned by institutional investors.

Insider Activity at Texas Pacific Land

In related news, Director Eric L. Oliver acquired 100 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was bought at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the transaction, the director owned 393,600 shares of the company’s stock, valued at approximately $346,867,872. The trade was a 0.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TPL. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a report on Tuesday, October 14th. Tudor Pickering raised Texas Pacific Land to a “strong sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Texas Pacific Land currently has a consensus rating of “Reduce”.

Texas Pacific Land Price Performance

TPL opened at $929.73 on Friday. The company has a market capitalization of $21.37 billion, a price-to-earnings ratio of 46.35 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. The business has a 50 day moving average price of $923.08 and a two-hundred day moving average price of $1,062.73.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 2nd. Texas Pacific Land’s dividend payout ratio is 31.90%.

About Texas Pacific Land

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.