Texas Pacific Land Corporation $TPL Stake Lessened by Cwm LLC

Cwm LLC cut its stake in Texas Pacific Land Corporation (NYSE:TPL) by 20.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 655 shares of the financial services provider’s stock after selling 165 shares during the period. Cwm LLC’s holdings in Texas Pacific Land were worth $691,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings 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 valued at $3,267,588,000 after acquiring an additional 115,743 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Texas Pacific Land by 2.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 183,485 shares of the financial services provider’s stock valued at $243,116,000 after acquiring an additional 3,850 shares in the last quarter. Schwartz Investment Counsel Inc. boosted its holdings in shares of Texas Pacific Land by 0.4% in the first quarter. Schwartz Investment Counsel Inc. now owns 150,823 shares of the financial services provider’s stock valued at $199,839,000 after acquiring an additional 642 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Texas Pacific Land by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 126,347 shares of the financial services provider’s stock valued at $167,386,000 after acquiring an additional 2,623 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Texas Pacific Land by 23.1% during 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 valued at $120,573,000 after purchasing an additional 17,066 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TPL has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a research note on Tuesday, October 14th. Tudor Pickering raised shares of Texas Pacific Land to a “strong sell” rating in a research note on Tuesday. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce”.

Insider Activity

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of Texas Pacific Land stock in a transaction dated Thursday, August 21st. The stock was bought at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the acquisition, the director directly owned 393,600 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. 6.90% of the stock is owned by insiders.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $938.36 on Friday. Texas Pacific Land Corporation has a 52 week low of $845.56 and a 52 week high of $1,769.14. The firm has a market capitalization of $21.56 billion, a price-to-earnings ratio of 46.78 and a beta of 1.12. The company has a 50 day moving average price of $922.14 and a 200 day moving average price of $1,063.99.

Texas Pacific Land (NYSE:TPL) last released its 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 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 Dividend Announcement

The firm 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. The ex-dividend date was Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. Texas Pacific Land’s dividend payout ratio is presently 31.90%.

About Texas Pacific Land

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.