Pittenger & Anderson Inc. Sells 162 Shares of Texas Pacific Land Corporation $TPL

Pittenger & Anderson Inc. lessened its position in Texas Pacific Land Corporation (NYSE:TPL) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,117 shares of the financial services provider’s stock after selling 162 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Texas Pacific Land were worth $4,349,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hemington Wealth Management lifted its holdings in shares of Texas Pacific Land by 66.7% in the 1st 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. Golden State Wealth Management LLC lifted its holdings in 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 valued at $28,000 after buying an additional 11 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Texas Pacific Land during the 1st quarter valued at about $28,000. Allworth Financial LP lifted its holdings in Texas Pacific Land by 42.1% during the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider’s stock valued at $36,000 after buying an additional 8 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its holdings in Texas Pacific Land by 237.5% during the 1st quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider’s stock valued at $36,000 after buying an additional 19 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of TPL opened at $937.07 on Tuesday. The firm has a market capitalization of $21.53 billion, a price-to-earnings ratio of 46.71 and a beta of 1.12. The company has a 50-day moving average of $919.39 and a 200 day moving average of $1,067.41. Texas Pacific Land Corporation has a 1-year low of $845.56 and a 1-year high of $1,769.14.

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

Texas Pacific Land Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. Texas Pacific Land’s dividend payout ratio (DPR) is 31.90%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a report on Tuesday, October 14th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Insider Buying and Selling

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were acquired at an average price of $881.27 per share, with a total value of $88,127.00. Following the transaction, 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 6.90% 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.