EagleClaw Capital Managment LLC Lowers Stock Holdings in Texas Pacific Land Corporation $TPL

EagleClaw Capital Managment LLC trimmed its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 0.6% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 47,127 shares of the financial services provider’s stock after selling 304 shares during the quarter. Texas Pacific Land comprises approximately 7.4% of EagleClaw Capital Managment LLC’s portfolio, making the stock its biggest position. EagleClaw Capital Managment LLC’s holdings in Texas Pacific Land were worth $49,784,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP boosted its holdings in shares of Texas Pacific Land by 42.1% during the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 8 shares during the last quarter. Hemington Wealth Management boosted its holdings in 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 purchasing an additional 8 shares during the last quarter. Meeder Advisory Services Inc. grew its position in Texas Pacific Land by 5.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 211 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 10 shares during the period. Chicago Partners Investment Group LLC grew its position 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 worth $619,000 after purchasing an additional 10 shares during the period. Finally, Evergreen Capital Management LLC raised its stake in Texas Pacific Land by 0.7% during the 1st quarter. Evergreen Capital Management LLC now owns 1,351 shares of the financial services provider’s stock valued at $1,790,000 after buying an additional 10 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

NYSE:TPL opened at $1,006.99 on Thursday. Texas Pacific Land Corporation has a one year low of $845.56 and a one year high of $1,769.14. The business has a fifty day moving average price of $934.11 and a 200-day moving average price of $1,031.23. The firm has a market capitalization of $23.14 billion, a price-to-earnings ratio of 50.20 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL) last released 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 company had revenue of $203.10 million for the quarter, compared to the consensus estimate 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 company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $1.60 per share. The ex-dividend date is Monday, December 1st. This represents a $6.40 dividend on an annualized basis and a yield of 0.6%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 30.92%.

Insiders Place Their Bets

In other news, Director Eric L. Oliver purchased 100 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was acquired at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TPL shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a report on Tuesday. Tudor Pickering raised 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 given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

Texas Pacific Land 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.