Citizens Financial Group Inc. RI Makes New Investment in Texas Pacific Land Corporation $TPL

Citizens Financial Group Inc. RI bought a new stake in Texas Pacific Land Corporation (NYSE:TPL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 692 shares of the financial services provider’s stock, valued at approximately $731,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers increased its position in Texas Pacific Land by 7.5% in the 2nd quarter. Cetera Investment Advisers now owns 1,990 shares of the financial services provider’s stock valued at $2,103,000 after acquiring an additional 138 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Texas Pacific Land by 7.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,623 shares of the financial services provider’s stock valued at $4,884,000 after purchasing an additional 315 shares during the last quarter. Arcadia Investment Management Corp MI increased its holdings in shares of Texas Pacific Land by 1.5% in the second quarter. Arcadia Investment Management Corp MI now owns 2,672 shares of the financial services provider’s stock valued at $2,823,000 after purchasing an additional 40 shares in the last quarter. Intrua Financial LLC bought a new position in Texas Pacific Land in the 2nd quarter worth approximately $382,000. Finally, Geode Capital Management LLC lifted its holdings in Texas Pacific Land by 3.9% during the 2nd quarter. Geode Capital Management LLC now owns 605,760 shares of the financial services provider’s stock worth $648,866,000 after buying an additional 22,796 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insiders Place Their Bets

In other news, Director Eric L. Oliver bought 100 shares of the stock in a transaction on Thursday, August 21st. The stock was purchased at an average price of $881.27 per share, with a total value of $88,127.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.90% of the stock is owned by insiders.

Analyst Ratings Changes

TPL has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a research note on Monday. Tudor Pickering raised Texas Pacific Land to a “strong sell” rating in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

Texas Pacific Land Stock Down 4.1%

TPL stock opened at $918.10 on Wednesday. Texas Pacific Land Corporation has a twelve month low of $845.56 and a twelve month high of $1,769.14. The company has a market cap of $21.10 billion, a P/E ratio of 45.77 and a beta of 1.12. The business’s fifty day moving average is $939.32 and its 200-day moving average is $1,019.21.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.77 by ($0.50). Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%. The company had revenue of $203.10 million during the quarter, compared to the consensus estimate of $175.00 million.

Texas Pacific Land Announces Dividend

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

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.