Lantern Wealth Advisors LLC Makes New $232,000 Investment in Texas Pacific Land Co. (NYSE:TPL)

Lantern Wealth Advisors LLC purchased a new position in Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 210 shares of the financial services provider’s stock, valued at approximately $232,000.

A number of other large investors also recently modified their holdings of the business. Barclays PLC boosted its holdings in shares of Texas Pacific Land by 6.1% in the third quarter. Barclays PLC now owns 19,892 shares of the financial services provider’s stock valued at $17,600,000 after acquiring an additional 1,152 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Texas Pacific Land by 26.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 474 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 100 shares in the last quarter. HB Wealth Management LLC raised its stake in shares of Texas Pacific Land by 7.1% in the 4th quarter. HB Wealth Management LLC now owns 1,153 shares of the financial services provider’s stock worth $1,276,000 after buying an additional 76 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Texas Pacific Land by 2,839.8% in the 4th quarter. UMB Bank n.a. now owns 2,881 shares of the financial services provider’s stock worth $3,186,000 after buying an additional 2,783 shares in the last quarter. Finally, Atomi Financial Group Inc. acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at $341,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Down 1.0%

Shares of TPL stock opened at $1,416.90 on Tuesday. The stock has a 50-day simple moving average of $1,305.22 and a 200 day simple moving average of $1,324.78. Texas Pacific Land Co. has a fifty-two week low of $578.56 and a fifty-two week high of $1,769.14. The stock has a market capitalization of $32.57 billion, a P/E ratio of 71.85 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.27 by ($0.03). Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The business had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $1.60 dividend. The ex-dividend date is Monday, June 2nd. This represents a $6.40 annualized dividend and a yield of 0.45%. Texas Pacific Land’s dividend payout ratio (DPR) is 32.02%.

Insider Buying and Selling at Texas Pacific Land

In other news, VP Micheal W. Dobbs sold 1,150 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the sale, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. The trade was a 45.22% 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. Also, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of the transaction, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at $4,601,592.98. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 122 shares of company stock valued at $161,200. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Company 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.