Texas Pacific Land Corporation $TPL Shares Sold by Krilogy Financial LLC

Krilogy Financial LLC lessened its stake in Texas Pacific Land Corporation (NYSE:TPL) by 49.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,068 shares of the financial services provider’s stock after selling 2,023 shares during the quarter. Krilogy Financial LLC’s holdings in Texas Pacific Land were worth $981,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in TPL. EverSource Wealth Advisors LLC raised its holdings in shares of Texas Pacific Land by 21.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 12 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in shares of Texas Pacific Land by 1.6% during the third quarter. Aptus Capital Advisors LLC now owns 969 shares of the financial services provider’s stock worth $905,000 after purchasing an additional 15 shares in the last quarter. Intech Investment Management LLC increased its holdings in Texas Pacific Land by 1.6% in the third quarter. Intech Investment Management LLC now owns 1,031 shares of the financial services provider’s stock valued at $963,000 after buying an additional 16 shares during the last quarter. Sei Investments Co. increased its holdings in Texas Pacific Land by 1.1% in the third quarter. Sei Investments Co. now owns 1,909 shares of the financial services provider’s stock valued at $1,782,000 after buying an additional 20 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in Texas Pacific Land by 5.4% in the third quarter. Larson Financial Group LLC now owns 410 shares of the financial services provider’s stock valued at $383,000 after buying an additional 21 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

NYSE TPL opened at $391.89 on Friday. The firm’s fifty day moving average price is $398.82 and its 200 day moving average price is $399.81. The company has a market capitalization of $27.03 billion, a price-to-earnings ratio of 53.68 and a beta of 0.61. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, topping the consensus estimate of $2.03 by $0.04. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. The firm had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. As a group, sell-side analysts forecast that Texas Pacific Land Corporation will post 8.88 earnings per share for the current year.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.60 per share. The ex-dividend date was Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. Texas Pacific Land’s payout ratio is 32.88%.

Insider Buying and Selling at Texas Pacific Land

In other news, CFO Chris Steddum sold 830 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $400.33, for a total value of $332,273.90. Following the completion of the sale, the chief financial officer directly owned 12,040 shares of the company’s stock, valued at approximately $4,819,973.20. The trade was a 6.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TPL shares. Zacks Research downgraded Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Finally, Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $639.00.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation (NYSE: TPL) is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company’s origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.

The company’s primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.