Continental Investors Services Inc. Has $788,000 Stake in Texas Pacific Land Corporation $TPL

Continental Investors Services Inc. lessened its stake in Texas Pacific Land Corporation (NYSE:TPL) by 2.0% during the second quarter, Holdings Channel reports. The firm owned 746 shares of the financial services provider’s stock after selling 15 shares during the period. Texas Pacific Land makes up approximately 1.4% of Continental Investors Services Inc.’s portfolio, making the stock its 22nd largest position. Continental Investors Services Inc.’s holdings in Texas Pacific Land were worth $788,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Riversedge Advisors LLC increased its position in Texas Pacific Land by 2.2% in the first quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider’s stock worth $490,000 after buying an additional 8 shares during the last quarter. Allworth Financial LP boosted its position 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 during the period. Hemington Wealth Management boosted its holdings in Texas Pacific Land by 66.7% in the 1st 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 period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position 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 worth $2,773,000 after buying an additional 9 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its position in shares of Texas Pacific Land by 5.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 211 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 10 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 1.9%

Shares of Texas Pacific Land stock opened at $946.05 on Friday. The company has a market capitalization of $21.74 billion, a price-to-earnings ratio of 47.16 and a beta of 1.12. The stock’s 50-day simple moving average is $926.55 and its 200-day simple moving average is $1,051.56. 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 issued its quarterly earnings data 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 firm had revenue of $187.54 million for the quarter, compared to analysts’ expectations of $198.00 million.

Texas Pacific Land Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on TPL shares. Tudor Pickering raised Texas Pacific Land to a “strong sell” rating in a report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Texas Pacific Land currently has an average rating of “Reduce”.

Insider Activity at Texas Pacific Land

In other news, Director Eric L. Oliver acquired 100 shares of Texas Pacific Land stock in a transaction that occurred on Thursday, August 21st. The shares were bought 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 trade represents a 0.03% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.90% of the company’s stock.

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.