US Bancorp DE Decreases Stock Holdings in Texas Pacific Land Corporation $TPL

US Bancorp DE trimmed its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 1.8% during the second quarter, HoldingsChannel reports. The firm owned 19,751 shares of the financial services provider’s stock after selling 368 shares during the period. US Bancorp DE’s holdings in Texas Pacific Land were worth $20,865,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of TPL. Vanguard Group Inc. lifted its stake in Texas Pacific Land by 4.9% in 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 purchasing an additional 115,743 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Texas Pacific Land during the 1st quarter valued at approximately $68,518,000. CW Advisors LLC purchased a new stake in shares of Texas Pacific Land during the 1st quarter valued at approximately $31,919,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of 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 valued at $120,573,000 after buying an additional 17,066 shares during the period. Finally, ASR Vermogensbeheer N.V. purchased a new stake in shares of Texas Pacific Land during the 1st quarter valued at approximately $16,297,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Eric L. Oliver bought 100 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was purchased at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the acquisition, the director owned 393,600 shares of the company’s stock, valued at approximately $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 6.90% of the company’s stock.

Texas Pacific Land Trading Down 2.1%

Shares of NYSE:TPL opened at $890.97 on Friday. Texas Pacific Land Corporation has a 12-month low of $845.56 and a 12-month high of $1,769.14. The business has a 50-day moving average price of $917.60 and a 200 day moving average price of $1,086.01. The company has a market capitalization of $20.47 billion, a price-to-earnings ratio of 44.42 and a beta of 1.12.

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

Texas Pacific Land Announces Dividend

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

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Texas Pacific Land in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently 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.