Quantinno Capital Management LP Acquires 6,976 Shares of Texas Pacific Land Corporation $TPL

Quantinno Capital Management LP raised its holdings in shares of Texas Pacific Land Corporation (NYSE:TPLFree Report) by 48.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 21,351 shares of the financial services provider’s stock after acquiring an additional 6,976 shares during the quarter. Quantinno Capital Management LP’s holdings in Texas Pacific Land were worth $10,133,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Texas Pacific Land in the third quarter worth $29,000. Silicon Valley Capital Partners purchased a new stake in shares of Texas Pacific Land during the third quarter valued at $33,000. Triumph Capital Management bought a new stake in Texas Pacific Land in the 3rd quarter worth about $36,000. MUFG Securities EMEA plc bought a new stake in Texas Pacific Land in the 2nd quarter worth about $59,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Texas Pacific Land by 21.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock worth $72,000 after buying an additional 12 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Texas Pacific Land news, CFO Chris Steddum sold 830 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $400.33, for a total value of $332,273.90. Following the transaction, the chief financial officer owned 12,040 shares of the company’s stock, valued at approximately $4,819,973.20. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TPL. Weiss Ratings restated a “hold (c+)” rating on shares of Texas Pacific Land in a research note on Wednesday, July 29th. Zacks Research upgraded shares of Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $639.00.

Check Out Our Latest Research Report on TPL

Texas Pacific Land Price Performance

NYSE TPL opened at $396.86 on Wednesday. The business’s fifty day moving average price is $395.06 and its 200-day moving average price is $421.81. The stock has a market capitalization of $27.37 billion, a price-to-earnings ratio of 54.36 and a beta of 0.60. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20.

Texas Pacific Land (NYSE:TPLGet Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.04. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%.The firm had revenue of $236.80 million for the quarter, compared to the consensus estimate of $233.00 million. Equities research analysts anticipate that Texas Pacific Land Corporation will post 8.88 EPS for the current year.

Texas Pacific Land Company Profile

(Free Report)

Texas Pacific Land Corporation (NYSE: TPL) is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company’s origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.

The company’s primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.

Further Reading

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Institutional Ownership by Quarter for Texas Pacific Land (NYSE:TPL)

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