Texas Pacific Land Corporation $TPL Shares Acquired by Amalgamated Bank

Amalgamated Bank increased its position in Texas Pacific Land Corporation (NYSE:TPL) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,257 shares of the financial services provider’s stock after buying an additional 273 shares during the quarter. Amalgamated Bank’s holdings in Texas Pacific Land were worth $4,497,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Hemington Wealth Management raised its position in shares of 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 during the period. Zions Bancorporation National Association UT purchased a new position in shares of Texas Pacific Land in the 1st quarter worth $28,000. Allworth Financial LP raised its position in shares of 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 during the period. GW&K Investment Management LLC raised its position in shares of 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 during the period. Finally, IMA Advisory Services Inc. purchased a new position in shares of Texas Pacific Land in the 1st quarter worth $36,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

NYSE:TPL opened at $946.05 on Monday. The business’s 50-day moving average is $926.55 and its two-hundred day moving average is $1,048.48. Texas Pacific Land Corporation has a 12 month low of $845.56 and a 12 month high of $1,769.14. The firm has a market capitalization of $21.74 billion, a PE ratio of 47.16 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $198.00 million.

Texas Pacific Land Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $1.60 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 31.90%.

Wall Street Analyst Weigh In

TPL has been the topic of several research reports. Tudor Pickering raised Texas Pacific Land to a “strong sell” rating in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research report on Tuesday, October 14th. One 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 an average rating of “Reduce”.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of the stock in a transaction dated Thursday, August 21st. The stock was bought at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the purchase, the director directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.90% of the stock is owned by corporate insiders.

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.