Texas Pacific Land Corporation $TPL Position Reduced by Wedmont Private Capital

Wedmont Private Capital cut its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 19.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 246 shares of the financial services provider’s stock after selling 61 shares during the quarter. Wedmont Private Capital’s holdings in Texas Pacific Land were worth $258,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TPL. GAMMA Investing LLC lifted its stake in Texas Pacific Land by 241,048.0% during the first quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider’s stock valued at $479,278,000 after buying an additional 361,572 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Texas Pacific Land by 4.9% in the first quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider’s stock worth $3,267,588,000 after purchasing an additional 115,743 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Texas Pacific Land in the first quarter worth approximately $68,518,000. CW Advisors LLC purchased a new stake in shares of Texas Pacific Land in the first quarter worth approximately $31,919,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Texas Pacific Land by 23.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,999 shares of the financial services provider’s stock worth $120,573,000 after purchasing an additional 17,066 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Eric L. Oliver purchased 100 shares of Texas Pacific Land stock in a transaction dated Thursday, August 21st. The stock was acquired at an average cost of $881.27 per share, with a total value of $88,127.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 210 shares of company stock valued at $190,205 over the last ninety days. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Price Performance

NYSE TPL opened at $873.62 on Monday. The company has a 50 day simple moving average of $929.60 and a 200-day simple moving average of $1,124.53. The firm has a market capitalization of $20.08 billion, a price-to-earnings ratio of 43.55 and a beta of 1.19. 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 posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.48 by ($0.43). The company 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Texas Pacific Land’s dividend payout ratio is 31.90%.

Texas Pacific Land Company 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.