Resona Asset Management Co. Ltd. Buys 489 Shares of Texas Pacific Land Corporation $TPL

Resona Asset Management Co. Ltd. increased its stake in Texas Pacific Land Corporation (NYSE:TPL) by 8.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,560 shares of the financial services provider’s stock after buying an additional 489 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Texas Pacific Land were worth $6,929,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TPL. Allworth Financial LP boosted its position in Texas Pacific Land by 42.1% during the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 8 shares during the period. Riversedge Advisors LLC lifted its stake in shares of Texas Pacific Land by 2.2% during the 1st quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider’s stock worth $490,000 after buying an additional 8 shares during the last quarter. Hemington Wealth Management lifted its stake 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 worth $26,000 after buying an additional 8 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in shares of Texas Pacific Land by 5.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 211 shares of the financial services provider’s stock worth $280,000 after buying an additional 10 shares during the period. Finally, Chicago Partners Investment Group LLC raised its holdings in Texas Pacific Land by 2.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 461 shares of the financial services provider’s stock valued at $619,000 after acquiring an additional 10 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TPL shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research report on Tuesday, October 14th. Tudor Pickering upgraded Texas Pacific Land to a “strong sell” rating in a research note on Tuesday, October 21st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Texas Pacific Land presently has an average rating of “Reduce”.

Insider Transactions at Texas Pacific Land

In related news, Director Eric L. Oliver purchased 100 shares of Texas Pacific Land 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 the SEC website. 6.90% of the stock is currently owned by corporate insiders.

Texas Pacific Land Trading Down 3.0%

NYSE TPL opened at $980.89 on Friday. The firm’s 50 day simple moving average is $930.09 and its 200 day simple moving average is $1,038.35. The firm has a market capitalization of $22.54 billion, a price-to-earnings ratio of 48.90 and a beta of 1.12. 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 released its earnings results on Wednesday, November 5th. The financial services provider reported $5.27 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $175.00 million.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $1.60 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $6.40 annualized dividend and a yield of 0.7%. Texas Pacific Land’s dividend payout ratio (DPR) is 30.92%.

Texas Pacific Land Company 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.