Texas Pacific Land Corporation $TPL Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,160 shares of the financial services provider’s stock after selling 31 shares during the period. Mutual of America Capital Management LLC’s holdings in Texas Pacific Land were worth $2,282,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AustralianSuper Pty Ltd lifted its stake in shares of Texas Pacific Land by 4.8% in the first quarter. AustralianSuper Pty Ltd now owns 8,591 shares of the financial services provider’s stock worth $11,383,000 after buying an additional 391 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Texas Pacific Land by 110.0% during the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 11 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Texas Pacific Land by 320.0% in the first quarter. Bessemer Group Inc. now owns 105 shares of the financial services provider’s stock valued at $139,000 after purchasing an additional 80 shares in the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of Texas Pacific Land by 338.3% in the first quarter. Harvest Fund Management Co. Ltd now owns 526 shares of the financial services provider’s stock valued at $696,000 after purchasing an additional 406 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of Texas Pacific Land in the first quarter valued at approximately $4,368,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TPL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a report on Tuesday, October 14th. Tudor Pickering upgraded shares of Texas Pacific Land to a “strong sell” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Insider Transactions at Texas Pacific Land

In related news, Director Eric L. Oliver bought 100 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were bought at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the purchase, the director owned 393,600 shares of the company’s stock, valued at $346,867,872. This represents a 0.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.90% of the company’s stock.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $929.73 on Friday. The firm has a market cap of $21.37 billion, a P/E ratio of 46.35 and a beta of 1.12. Texas Pacific Land Corporation has a 1-year low of $845.56 and a 1-year high of $1,769.14. The firm’s 50-day simple moving average is $923.08 and its 200-day simple moving average is $1,062.39.

Texas Pacific Land (NYSE:TPL) last posted 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). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.The business had revenue of $187.54 million for the quarter, compared to analyst estimates of $198.00 million.

Texas Pacific Land Dividend Announcement

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