Marietta Wealth Management LLC Buys 184 Shares of Texas Pacific Land Corporation $TPL

Marietta Wealth Management LLC increased its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 3.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,284 shares of the financial services provider’s stock after acquiring an additional 184 shares during the period. Marietta Wealth Management LLC’s holdings in Texas Pacific Land were worth $6,638,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TPL. Vanguard Group Inc. grew its position in Texas Pacific Land by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider’s stock worth $3,267,588,000 after acquiring an additional 115,743 shares during the last quarter. Nuveen LLC bought a new stake in Texas Pacific Land during the 1st quarter worth approximately $68,518,000. CW Advisors LLC bought a new stake in Texas Pacific Land during the 1st quarter worth approximately $31,919,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Texas Pacific Land by 23.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,999 shares of the financial services provider’s stock worth $120,573,000 after acquiring an additional 17,066 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in Texas Pacific Land during the 1st quarter worth approximately $16,297,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $945.95 on Friday. The stock’s fifty day moving average price is $921.00 and its two-hundred day moving average price is $1,098.20. Texas Pacific Land Corporation has a 52-week low of $845.56 and a 52-week high of $1,769.14. The company has a market cap of $21.74 billion, a price-to-earnings ratio of 47.16 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.48 by ($0.43). The firm had revenue of $187.54 million for the quarter, compared to analyst estimates of $198.00 million. Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $1.60 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. Texas Pacific Land’s dividend payout ratio is 31.90%.

Insider Activity at Texas Pacific Land

In other news, Director Eric L. Oliver acquired 100 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was acquired at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the transaction, the director directly owned 393,600 shares in the company, valued at approximately $346,867,872. This represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 6.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Texas Pacific Land in a research report on Saturday, September 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Texas Pacific Land has a consensus rating of “Hold”.

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.