Texas Pacific Land Corporation $TPL Position Increased by Empowered Funds LLC

Empowered Funds LLC lifted its position in Texas Pacific Land Corporation (NYSE:TPL) by 16.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,909 shares of the financial services provider’s stock after acquiring an additional 1,701 shares during the period. Empowered Funds LLC owned about 0.05% of Texas Pacific Land worth $12,581,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Hemington Wealth Management boosted its stake in 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 purchasing an additional 8 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Texas Pacific Land in the first quarter worth $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Texas Pacific Land in the first quarter worth $36,000. GW&K Investment Management LLC grew its holdings in shares of Texas Pacific Land by 237.5% during the first 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. Finally, Assetmark Inc. raised its position in Texas Pacific Land by 50.0% during the first quarter. Assetmark Inc. now owns 39 shares of the financial services provider’s stock valued at $52,000 after buying an additional 13 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $918.10 on Wednesday. Texas Pacific Land Corporation has a one year low of $845.56 and a one year high of $1,769.14. The business’s 50-day moving average price is $939.32 and its two-hundred day moving average price is $1,019.21. The company has a market capitalization of $21.10 billion, a P/E ratio of 45.77 and a beta of 1.12.

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

Texas Pacific Land Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on TPL. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Monday. Tudor Pickering raised shares of Texas Pacific Land to a “strong sell” rating in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Texas Pacific Land currently has an average rating of “Reduce”.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver purchased 100 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were bought at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the purchase, the director directly owned 393,600 shares in the company, valued at $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 link. 6.90% of the stock is currently owned by company insiders.

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.