Dimensional Fund Advisors LP Has $204.55 Million Position in Texas Pacific Land Corporation $TPL

Dimensional Fund Advisors LP lessened its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 3.2% during the 1st quarter, HoldingsChannel reports. The firm owned 431,090 shares of the financial services provider’s stock after selling 14,351 shares during the period. Dimensional Fund Advisors LP’s holdings in Texas Pacific Land were worth $204,549,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TPL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Texas Pacific Land by 39.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,940 shares of the financial services provider’s stock worth $2,570,000 after buying an additional 545 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Texas Pacific Land by 74.1% in the first quarter. NewEdge Advisors LLC now owns 914 shares of the financial services provider’s stock valued at $1,211,000 after buying an additional 389 shares during the period. Woodline Partners LP increased its position in shares of Texas Pacific Land by 40.8% during the first quarter. Woodline Partners LP now owns 1,592 shares of the financial services provider’s stock worth $2,109,000 after acquiring an additional 461 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Texas Pacific Land by 21.4% during the second quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 12 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Texas Pacific Land by 2,177.5% during the second quarter. Marshall Wace LLP now owns 4,555 shares of the financial services provider’s stock worth $4,812,000 after acquiring an additional 4,355 shares during the period. 59.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TPL has been the topic of several recent research reports. Zacks Research lowered Texas Pacific Land from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $639.00.

Insider Activity at Texas Pacific Land

In other news, CFO Chris Steddum sold 3,170 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $400.25, for a total value of $1,268,792.50. Following the transaction, the chief financial officer directly owned 12,870 shares of the company’s stock, valued at $5,151,217.50. This represents a 19.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is currently owned by corporate insiders.

Texas Pacific Land Trading Down 1.4%

Shares of TPL opened at $419.46 on Friday. The company’s fifty day simple moving average is $395.25 and its 200 day simple moving average is $416.54. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20. The company has a market cap of $28.93 billion, a price-to-earnings ratio of 57.46 and a beta of 0.58.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $233.00 million. As a group, research analysts forecast that Texas Pacific Land Corporation will post 8.88 earnings per share for the current year.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 1st. Texas Pacific Land’s payout ratio is 32.88%.

Texas Pacific Land Company Profile

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.