RWA Wealth Partners LLC Buys 7,125 Shares of Texas Pacific Land Corporation $TPL

RWA Wealth Partners LLC boosted its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 42.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,724 shares of the financial services provider’s stock after acquiring an additional 7,125 shares during the period. RWA Wealth Partners LLC’s holdings in Texas Pacific Land were worth $25,062,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Hemington Wealth Management lifted its holdings in shares of Texas Pacific Land by 66.7% in the first 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. Zions Bancorporation National Association UT bought a new position in Texas Pacific Land in the 1st quarter valued at approximately $28,000. Allworth Financial LP grew its stake in shares of Texas Pacific Land by 42.1% in 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 last quarter. GW&K Investment Management LLC increased its stake in shares of Texas Pacific Land by 237.5% in 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 during the period. Finally, IMA Advisory Services Inc. bought a new position in Texas Pacific Land during the 1st quarter worth approximately $36,000. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 3.0%

TPL opened at $980.89 on Friday. The stock has a market cap of $22.54 billion, a PE ratio of 48.90 and a beta of 1.12. The business’s fifty day simple moving average is $930.09 and its 200 day simple moving average is $1,040.23. Texas Pacific Land Corporation has a 52 week low of $845.56 and a 52 week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.77 by ($0.50). The business had revenue of $203.10 million for the quarter, compared to analysts’ expectations 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 disclosed 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. 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 is 31.90%.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of the firm’s stock in a transaction on Thursday, August 21st. The stock was 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 in the company, valued at $346,867,872. This represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 6.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Tudor Pickering upgraded shares of Texas Pacific Land to a “strong sell” rating in a report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a research report on Tuesday, October 14th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Texas Pacific Land has an average rating of “Reduce”.

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.