Marietta Wealth Management LLC Buys 184 Shares of Texas Pacific Land Corporation $TPL

Marietta Wealth Management LLC lifted its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,284 shares of the financial services provider’s stock after acquiring an additional 184 shares during the quarter. Marietta Wealth Management LLC’s holdings in Texas Pacific Land were worth $6,638,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. AustralianSuper Pty Ltd lifted its position 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 worth $11,383,000 after purchasing an additional 391 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Texas Pacific Land by 320.0% during the 1st quarter. Bessemer Group Inc. now owns 105 shares of the financial services provider’s stock worth $139,000 after purchasing an additional 80 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of Texas Pacific Land by 110.0% during the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 11 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its position 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 worth $696,000 after purchasing an additional 406 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of Texas Pacific Land during the 1st quarter worth about $4,368,000. Institutional investors own 59.94% of the company’s stock.

Insider Buying and Selling at Texas Pacific Land

In related news, Director Eric L. Oliver acquired 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, for a total transaction of $88,127.00. Following the purchase, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Texas Pacific Land in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Texas Pacific Land has a consensus rating of “Hold”.

Texas Pacific Land Stock Down 2.3%

Shares of TPL opened at $945.95 on Friday. Texas Pacific Land Corporation has a 12-month low of $845.56 and a 12-month high of $1,769.14. The firm has a market capitalization of $21.74 billion, a price-to-earnings ratio of 47.16 and a beta of 1.12. The stock’s 50-day moving average price is $921.00 and its 200 day moving average price is $1,098.20.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.48 by ($0.43). Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%. The firm had revenue of $187.54 million for the quarter, compared to the consensus estimate of $198.00 million.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 2nd. Texas Pacific Land’s dividend payout ratio is currently 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.