Cetera Investment Advisers Buys 138 Shares of Texas Pacific Land Corporation $TPL

Cetera Investment Advisers grew its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 7.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,990 shares of the financial services provider’s stock after buying an additional 138 shares during the quarter. Cetera Investment Advisers’ holdings in Texas Pacific Land were worth $2,103,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Hemington Wealth Management boosted its holdings in shares of Texas Pacific Land by 66.7% during the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 8 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Texas Pacific Land in the first quarter valued at about $28,000. Assetmark Inc. raised its position in Texas Pacific Land by 50.0% in the first quarter. Assetmark Inc. now owns 39 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 13 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Texas Pacific Land by 5,100.0% during the second quarter. SBI Securities Co. Ltd. now owns 52 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 51 shares in the last quarter. Finally, SVB Wealth LLC acquired a new stake in shares of Texas Pacific Land during the first quarter valued at about $61,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $864.29 on Friday. The stock has a market capitalization of $19.86 billion, a PE ratio of 43.09 and a beta of 1.12. The business’s 50 day simple moving average is $932.24 and its 200 day simple moving average is $996.04. Texas Pacific Land Corporation has a one year low of $838.27 and a one year high of $1,692.51.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results 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 firm had revenue of $203.10 million during the quarter, compared to analyst estimates of $175.00 million.

Texas Pacific Land Dividend Announcement

The company 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 0.7%. Texas Pacific Land’s dividend payout ratio is 30.92%.

Analyst Upgrades and Downgrades

TPL has been the subject of several recent research reports. Tudor Pickering raised Texas Pacific Land to a “strong sell” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

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.