Caitong International Asset Management Co. Ltd Has $32,000 Holdings in Texas Pacific Land Corporation $TPL

Caitong International Asset Management Co. Ltd cut its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 70.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30 shares of the financial services provider’s stock after selling 73 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Texas Pacific Land were worth $32,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Allworth Financial LP grew its stake 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 acquiring an additional 8 shares in the last quarter. Riversedge Advisors LLC grew its stake in shares of Texas Pacific Land by 2.2% in the first quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider’s stock valued at $490,000 after acquiring an additional 8 shares in the last quarter. Hemington Wealth Management grew its stake 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 acquiring an additional 8 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Texas Pacific Land by 0.4% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,093 shares of the financial services provider’s stock valued at $2,773,000 after acquiring an additional 9 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in Texas Pacific Land by 5.0% during the first quarter. Meeder Advisory Services Inc. now owns 211 shares of the financial services provider’s stock worth $280,000 after buying an additional 10 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Texas Pacific Land

In related news, Director Eric L. Oliver purchased 100 shares of Texas Pacific Land stock in a transaction dated Thursday, August 21st. The shares were bought at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the purchase, the director owned 393,600 shares in the company, valued at approximately $346,867,872. This trade represents a 0.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.90% of the company’s stock.

Texas Pacific Land Trading Down 0.8%

TPL opened at $929.73 on Monday. The company’s 50 day moving average is $923.08 and its 200-day moving average is $1,060.91. Texas Pacific Land Corporation has a 1-year low of $845.56 and a 1-year high of $1,769.14. The company has a market cap of $21.37 billion, a P/E ratio of 46.35 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL) last posted its quarterly 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). Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%. The company had revenue of $187.54 million during the quarter, compared to analyst estimates of $198.00 million.

Texas Pacific Land Dividend Announcement

The business 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. 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 (DPR) is presently 31.90%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TPL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research note on Tuesday, October 14th. Tudor Pickering upgraded shares of Texas Pacific Land to a “strong sell” rating in a research note 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’s stock. According to MarketBeat, the stock presently has an average 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.