Roberts Glore & Co. Inc. IL Buys Shares of 1,867 Texas Pacific Land Corporation $TPL

Roberts Glore & Co. Inc. IL purchased a new position in shares of Texas Pacific Land Corporation (NYSE:TPL) in the second quarter, HoldingsChannel reports. The fund purchased 1,867 shares of the financial services provider’s stock, valued at approximately $817,000.

Other hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC raised its holdings in shares of Texas Pacific Land by 171.9% in the fourth quarter. Summit Securities Group LLC now owns 87 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 55 shares during the last quarter. IFP Advisors Inc boosted its holdings in Texas Pacific Land by 185.3% during the fourth quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 63 shares during the last quarter. Quarry LP bought a new position in Texas Pacific Land in the third quarter valued at $29,000. Los Angeles Capital Management LLC bought a new position in Texas Pacific Land in the fourth quarter valued at $31,000. Finally, Silicon Valley Capital Partners acquired a new stake in Texas Pacific Land in the 3rd quarter valued at $33,000. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Trading Down 0.1%

Shares of TPL opened at $373.09 on Wednesday. The company has a market cap of $25.73 billion, a price-to-earnings ratio of 47.55 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. The company’s fifty day simple moving average is $388.56 and its 200 day simple moving average is $423.95.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.05. The firm had revenue of $246.10 million for the quarter, compared to analyst estimates of $249.50 million. Texas Pacific Land had a net margin of 60.32% and a return on equity of 35.76%. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Texas Pacific Land’s dividend payout ratio (DPR) is 30.57%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Texas Pacific Land news, CFO Chris Steddum sold 3,170 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $400.25, for a total transaction of $1,268,792.50. Following the transaction, the chief financial officer owned 12,870 shares of the company’s stock, valued at $5,151,217.50. The trade was a 19.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.90% of the company’s stock.

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.