Citizens Financial Group Inc. RI Invests $731,000 in Texas Pacific Land Corporation $TPL

Citizens Financial Group Inc. RI acquired a new stake in Texas Pacific Land Corporation (NYSE:TPL) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 692 shares of the financial services provider’s stock, valued at approximately $731,000.

Several other hedge funds have also recently bought and sold shares of TPL. Vanguard Group Inc. boosted its holdings in shares of Texas Pacific Land by 4.9% in the first quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider’s stock valued at $3,267,588,000 after buying an additional 115,743 shares during the period. TD Asset Management Inc boosted its stake in Texas Pacific Land by 1,104.4% in the 2nd quarter. TD Asset Management Inc now owns 96,123 shares of the financial services provider’s stock worth $101,543,000 after purchasing an additional 88,142 shares during the period. Nuveen LLC bought a new position in Texas Pacific Land during the 1st quarter worth about $68,518,000. CW Advisors LLC acquired a new stake in shares of Texas Pacific Land in the 1st quarter valued at about $31,919,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Texas Pacific Land by 3.9% in the second quarter. Geode Capital Management LLC now owns 605,760 shares of the financial services provider’s stock valued at $648,866,000 after purchasing an additional 22,796 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $918.10 on Wednesday. The business has a 50-day moving average of $939.32 and a 200-day moving average of $1,019.21. The stock has a market capitalization of $21.10 billion, a price-to-earnings ratio of 45.77 and a beta of 1.12. Texas Pacific Land Corporation has a fifty-two week low of $845.56 and a fifty-two 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 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 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $1.60 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 30.92%.

Analysts Set New Price Targets

TPL has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday. Tudor Pickering upgraded shares of Texas Pacific Land to a “strong sell” rating in a report on Tuesday, October 21st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Texas Pacific Land presently has a consensus rating of “Reduce”.

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 shares were purchased at an average cost of $881.27 per share, with a total value of $88,127.00. Following the completion of the transaction, the director owned 393,600 shares of the company’s stock, valued at $346,867,872. The trade was a 0.03% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.90% of the company’s stock.

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.