Bessemer Group Inc. Decreases Stock Position in Texas Pacific Land Corporation $TPL

Bessemer Group Inc. lessened its stake in Texas Pacific Land Corporation (NYSE:TPL) by 61.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40 shares of the financial services provider’s stock after selling 65 shares during the quarter. Bessemer Group Inc.’s holdings in Texas Pacific Land were worth $42,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AustralianSuper Pty Ltd boosted its stake in shares of Texas Pacific Land by 4.8% during the 1st quarter. AustralianSuper Pty Ltd now owns 8,591 shares of the financial services provider’s stock valued at $11,383,000 after buying an additional 391 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Texas Pacific Land by 338.3% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 526 shares of the financial services provider’s stock valued at $696,000 after buying an additional 406 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Texas Pacific Land during the 1st quarter valued at approximately $4,368,000. Brooklyn Investment Group lifted its stake in Texas Pacific Land by 3,246.7% during the first quarter. Brooklyn Investment Group now owns 502 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 487 shares during the last quarter. Finally, Strategy Asset Managers LLC bought a new position in Texas Pacific Land during the first quarter worth $576,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TPL. Tudor Pickering upgraded Texas Pacific Land to a “strong sell” rating in a research note on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce”.

Texas Pacific Land Stock Performance

Shares of TPL opened at $917.46 on Thursday. The firm has a market capitalization of $21.08 billion, a price-to-earnings ratio of 45.74 and a beta of 1.12. Texas Pacific Land Corporation has a one year low of $845.56 and a one year high of $1,769.14. The stock’s fifty day moving average is $927.37 and its 200-day moving average is $1,042.31.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $5.27 EPS for the quarter. The company had revenue of $203.10 million for the quarter. Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver purchased 100 shares of the stock in a transaction dated Thursday, August 21st. The shares were bought at an average cost of $881.27 per share, with a total value of $88,127.00. Following the completion of the acquisition, the director 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.90% of the company’s stock.

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.