Ritholtz Wealth Management Raises Stock Holdings in Texas Pacific Land Corporation $TPL

Ritholtz Wealth Management increased its position in Texas Pacific Land Corporation (NYSE:TPL) by 14.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 641 shares of the financial services provider’s stock after buying an additional 82 shares during the quarter. Ritholtz Wealth Management’s holdings in Texas Pacific Land were worth $677,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. AustralianSuper Pty Ltd increased its stake in shares of Texas Pacific Land by 4.8% in the first quarter. AustralianSuper Pty Ltd now owns 8,591 shares of the financial services provider’s stock worth $11,383,000 after buying an additional 391 shares during the period. Golden State Wealth Management LLC increased its stake in shares of Texas Pacific Land by 110.0% in the first 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 during the period. Bessemer Group Inc. increased its stake in shares of Texas Pacific Land by 320.0% in the first quarter. Bessemer Group Inc. now owns 105 shares of the financial services provider’s stock worth $139,000 after buying an additional 80 shares during the period. Harvest Fund Management Co. Ltd increased its stake in shares of Texas Pacific Land by 338.3% in the first quarter. Harvest Fund Management Co. Ltd now owns 526 shares of the financial services provider’s stock worth $696,000 after buying an additional 406 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in Texas Pacific Land during the 1st quarter valued at $4,368,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Texas Pacific Land Trading Down 0.0%

Shares of Texas Pacific Land stock opened at $937.81 on Friday. The company’s fifty day simple moving average is $917.75 and its two-hundred day simple moving average is $1,069.49. The company has a market cap of $21.55 billion, a P/E ratio of 46.75 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.

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 business had revenue of $187.54 million during the quarter, compared to analysts’ expectations 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a $1.60 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. Texas Pacific Land’s dividend payout ratio is currently 31.90%.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of Texas Pacific Land stock in a transaction dated Thursday, August 21st. The shares were purchased at an average cost of $881.27 per share, with a total value of $88,127.00. Following the transaction, the director directly owned 393,600 shares of the company’s stock, valued at $346,867,872. This represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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.