Alberta Investment Management Corp Takes Position in Texas Pacific Land Corporation $TPL

Alberta Investment Management Corp purchased a new stake in Texas Pacific Land Corporation (NYSE:TPL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,300 shares of the financial services provider’s stock, valued at approximately $2,430,000.

A number of other large investors have also added to or reduced their stakes in TPL. Hemington Wealth Management lifted its holdings in shares of Texas Pacific Land by 66.7% in the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 8 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Texas Pacific Land in the 1st quarter valued at approximately $28,000. IMA Advisory Services Inc. acquired a new stake in Texas Pacific Land in the first quarter valued at approximately $36,000. GW&K Investment Management LLC grew its stake in shares of Texas Pacific Land by 237.5% during the first quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider’s stock worth $36,000 after buying an additional 19 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Texas Pacific Land by 50.0% during the first quarter. Assetmark Inc. now owns 39 shares of the financial services provider’s stock worth $52,000 after buying an additional 13 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $1,025.41 on Monday. The firm has a market capitalization of $23.56 billion, a P/E ratio of 51.12 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 business has a fifty day moving average price of $938.07 and a 200-day moving average price of $1,024.73.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.77 by ($0.50). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.The business had revenue of $203.10 million during the quarter, compared to analysts’ expectations of $175.00 million.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $6.40 dividend on an annualized basis and a yield of 0.6%. Texas Pacific Land’s dividend payout ratio is presently 30.92%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a report on Tuesday, November 11th. Tudor Pickering raised shares of Texas Pacific Land to a “strong sell” rating in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Texas Pacific Land 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.