Parallel Advisors LLC Reduces Position in Texas Pacific Land Corporation $TPL

Parallel Advisors LLC lessened its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 23.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 136 shares of the financial services provider’s stock after selling 42 shares during the period. Parallel Advisors LLC’s holdings in Texas Pacific Land were worth $144,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. First Financial Bank Trust Division grew its position in Texas Pacific Land by 15.3% during the 2nd quarter. First Financial Bank Trust Division now owns 226 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 30 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Texas Pacific Land in the 1st quarter valued at $1,885,000. Cim LLC boosted its holdings in shares of Texas Pacific Land by 89.5% in the 1st quarter. Cim LLC now owns 3,043 shares of the financial services provider’s stock valued at $4,032,000 after acquiring an additional 1,437 shares during the last quarter. Strs Ohio purchased a new stake in shares of Texas Pacific Land in the 1st quarter valued at $849,000. Finally, WBI Investments LLC purchased a new stake in shares of Texas Pacific Land in the 1st quarter valued at $1,510,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver acquired 100 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were acquired at an average cost of $881.27 per share, with a total value of $88,127.00. Following the acquisition, the director directly owned 393,600 shares of the company’s stock, valued at approximately $346,867,872. The trade was a 0.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 6.50% of the stock is owned by company insiders.

Texas Pacific Land Price Performance

TPL stock opened at $930.58 on Wednesday. The firm’s fifty day simple moving average is $925.43 and its 200-day simple moving average is $1,119.74. The company has a market capitalization of $21.39 billion, a P/E ratio of 46.39 and a beta of 1.19. 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 quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 EPS for the quarter, missing the consensus estimate 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 net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Announces Dividend

The firm also recently disclosed 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 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.