Entropy Technologies LP Takes Position in Texas Pacific Land Corporation $TPL

Entropy Technologies LP purchased a new stake in Texas Pacific Land Corporation (NYSE:TPL) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 500 shares of the financial services provider’s stock, valued at approximately $528,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd boosted its holdings in Texas Pacific Land by 338.3% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 526 shares of the financial services provider’s stock worth $696,000 after buying an additional 406 shares during the last quarter. Brooklyn Investment Group lifted its holdings in Texas Pacific Land by 3,246.7% in the 1st quarter. Brooklyn Investment Group now owns 502 shares of the financial services provider’s stock valued at $665,000 after purchasing an additional 487 shares in the last quarter. Strategy Asset Managers LLC purchased a new stake in shares of Texas Pacific Land during the first quarter worth $576,000. ASR Vermogensbeheer N.V. acquired a new stake in shares of Texas Pacific Land in the first quarter valued at about $16,297,000. Finally, Jump Financial LLC raised its position in shares of Texas Pacific Land by 151.6% in the first quarter. Jump Financial LLC now owns 561 shares of the financial services provider’s stock valued at $743,000 after buying an additional 338 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TPL has been the topic of several recent research reports. Tudor Pickering upgraded Texas Pacific Land to a “strong sell” rating in a report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Monday, November 17th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Texas Pacific Land has a consensus rating of “Reduce”.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $878.59 on Tuesday. Texas Pacific Land Corporation has a fifty-two week low of $845.56 and a fifty-two week high of $1,769.14. The company has a 50 day moving average price of $935.90 and a 200 day moving average price of $1,007.05. The stock has a market capitalization of $20.19 billion, a P/E ratio of 43.80 and a beta of 1.12.

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). The firm had revenue of $203.10 million during 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $1.60 per share. The ex-dividend date is Monday, December 1st. This represents a $6.40 annualized dividend and a yield of 0.7%. Texas Pacific Land’s dividend payout ratio is 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.