Quantitative Investment Management LLC Acquires New Shares in Texas Pacific Land Corporation $TPL

Quantitative Investment Management LLC bought a new position in shares of Texas Pacific Land Corporation (NYSE:TPL) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,496 shares of the financial services provider’s stock, valued at approximately $1,092,000.

Several other institutional investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Texas Pacific Land by 39.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,940 shares of the financial services provider’s stock worth $2,570,000 after acquiring an additional 545 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Texas Pacific Land by 74.1% during the first quarter. NewEdge Advisors LLC now owns 914 shares of the financial services provider’s stock worth $1,211,000 after purchasing an additional 389 shares in the last quarter. Woodline Partners LP boosted its position in shares of Texas Pacific Land by 40.8% during the first quarter. Woodline Partners LP now owns 1,592 shares of the financial services provider’s stock worth $2,109,000 after purchasing an additional 461 shares in the last quarter. EverSource Wealth Advisors LLC grew 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 buying an additional 12 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Texas Pacific Land by 2,177.5% in the 2nd quarter. Marshall Wace LLP now owns 4,555 shares of the financial services provider’s stock valued at $4,812,000 after buying an additional 4,355 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 830 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 12,040 shares in the company, valued at $4,819,973.20. This trade represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.

Texas Pacific Land Stock Down 1.4%

Shares of TPL stock opened at $369.12 on Wednesday. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20. The company’s fifty day simple moving average is $389.62 and its 200-day simple moving average is $423.57. The firm has a market cap of $25.46 billion, a PE ratio of 47.04 and a beta of 0.61.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, August 5th. The financial services provider reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.05. Texas Pacific Land had a net margin of 60.32% and a return on equity of 35.76%. The business had revenue of $246.10 million during the quarter, compared to the consensus estimate of $249.50 million. On average, equities analysts predict that Texas Pacific Land Corporation will post 8.88 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Texas Pacific Land’s payout ratio is currently 30.57%.

Analyst Upgrades and Downgrades

TPL has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Texas Pacific Land in a report on Wednesday, July 29th. Zacks Research raised Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $639.00.

Texas Pacific Land 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.