Investment Advisory Group LLC Sells 35 Shares of Texas Pacific Land Corporation $TPL

Investment Advisory Group LLC lessened its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 3.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 968 shares of the financial services provider’s stock after selling 35 shares during the quarter. Investment Advisory Group LLC’s holdings in Texas Pacific Land were worth $1,023,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of Texas Pacific Land by 3.3% in the first quarter. Farther Finance Advisors LLC now owns 344 shares of the financial services provider’s stock worth $465,000 after purchasing an additional 11 shares during the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of Texas Pacific Land in the first quarter worth $280,000. GAMMA Investing LLC grew its stake in shares of Texas Pacific Land by 82.0% in the first quarter. GAMMA Investing LLC now owns 273 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 123 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Texas Pacific Land by 40.1% in the first quarter. SG Americas Securities LLC now owns 608 shares of the financial services provider’s stock worth $806,000 after purchasing an additional 174 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Texas Pacific Land by 105.6% in the first quarter. Fifth Third Bancorp now owns 222 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 114 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Texas Pacific Land in a research note on Saturday, September 27th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Texas Pacific Land presently has an average rating of “Hold”.

Texas Pacific Land Stock Down 2.1%

TPL stock opened at $890.97 on Friday. The firm has a market cap of $20.47 billion, a price-to-earnings ratio of 44.42 and a beta of 1.12. Texas Pacific Land Corporation has a 12-month low of $845.56 and a 12-month high of $1,769.14. The company’s fifty day simple moving average is $917.60 and its 200 day simple moving average is $1,084.11.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Announces Dividend

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

Insider Transactions at Texas Pacific Land

In other news, Director Eric L. Oliver bought 100 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The shares were acquired at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the acquisition, the director directly owned 393,600 shares in the company, valued at approximately $346,867,872. This represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 6.90% of the stock is currently owned by insiders.

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.