Texas Pacific Land Corporation $TPL Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Texas Pacific Land Corporation (NYSE:TPL) by 7.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,623 shares of the financial services provider’s stock after purchasing an additional 315 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Texas Pacific Land were worth $4,884,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hemington Wealth Management grew its holdings in 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 purchasing an additional 8 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Texas Pacific Land during the 1st quarter worth $28,000. IMA Advisory Services Inc. purchased a new stake in shares of Texas Pacific Land in the 1st quarter worth about $36,000. GW&K Investment Management LLC boosted 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 in the last quarter. Finally, Assetmark Inc. grew its stake in Texas Pacific Land by 50.0% in the 1st quarter. Assetmark Inc. now owns 39 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 13 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TPL has been the subject of a number of research reports. Tudor Pickering upgraded shares of Texas Pacific Land to a “strong sell” rating in a research report on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Monday. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Texas Pacific Land Stock Down 4.1%

TPL stock opened at $918.10 on Wednesday. The stock has a market capitalization of $21.10 billion, a price-to-earnings ratio of 45.77 and a beta of 1.12. The stock’s fifty day simple moving average is $939.32 and its 200-day simple moving average is $1,019.21. Texas Pacific Land Corporation has a 52-week low of $845.56 and a 52-week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $5.27 earnings per share for the quarter, missing the consensus estimate of $5.77 by ($0.50). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.The company had revenue of $203.10 million for the quarter, compared to analysts’ expectations of $175.00 million.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $1.60 per share. The ex-dividend date is Monday, December 1st. This represents a $6.40 annualized dividend and a yield of 0.7%. Texas Pacific Land’s dividend payout ratio is currently 30.92%.

Insider Buying and Selling at Texas Pacific Land

In other news, Director Eric L. Oliver bought 100 shares of the firm’s stock in a transaction dated Thursday, August 21st. The stock was acquired at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the acquisition, the director owned 393,600 shares of the company’s stock, valued at $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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.