Lantern Wealth Advisors LLC Makes New Investment in Texas Pacific Land Co. (NYSE:TPL)

Lantern Wealth Advisors LLC acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 210 shares of the financial services provider’s stock, valued at approximately $232,000.

A number of other large investors have also made changes to their positions in the stock. Bessemer Group Inc. boosted its stake in Texas Pacific Land by 108.3% in the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock worth $28,000 after buying an additional 13 shares during the last quarter. Assetmark Inc. acquired a new stake in Texas Pacific Land in the 4th quarter valued at $29,000. Atala Financial Inc acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $31,000. TD Waterhouse Canada Inc. raised its stake in shares of Texas Pacific Land by 45.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 15 shares during the period. Finally, CoreCap Advisors LLC boosted its position in Texas Pacific Land by 5,700.0% in the 4th quarter. CoreCap Advisors LLC now owns 58 shares of the financial services provider’s stock valued at $64,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 1.0%

Shares of NYSE:TPL opened at $1,416.90 on Tuesday. The firm has a market cap of $32.57 billion, a PE ratio of 71.85 and a beta of 1.20. Texas Pacific Land Co. has a 12-month low of $578.56 and a 12-month high of $1,769.14. The company has a fifty day simple moving average of $1,305.22 and a 200 day simple moving average of $1,324.78.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing analysts’ consensus estimates of $5.27 by ($0.03). Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The firm had revenue of $195.98 million for the quarter, compared to the consensus estimate of $211.00 million.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land’s dividend payout ratio is presently 32.02%.

Insider Buying and Selling at Texas Pacific Land

In related news, VP Micheal W. Dobbs sold 1,150 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the completion of the transaction, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. The trade was a 45.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the transaction, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at approximately $4,601,592.98. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders acquired a total of 122 shares of company stock worth $161,200 over the last 90 days. Insiders own 6.50% of the company’s stock.

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.