Insight Wealth Partners LLC Acquires 11 Shares of Texas Pacific Land Corporation $TPL

Insight Wealth Partners LLC increased its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 5.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208 shares of the financial services provider’s stock after buying an additional 11 shares during the period. Insight Wealth Partners LLC’s holdings in Texas Pacific Land were worth $220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Riversedge Advisors LLC raised its stake in shares of Texas Pacific Land by 2.2% during the first quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider’s stock worth $490,000 after buying an additional 8 shares during the last quarter. Allworth Financial LP grew its holdings in Texas Pacific Land by 42.1% during the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 8 shares during the period. Hemington Wealth Management increased its stake in Texas Pacific Land by 66.7% in the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 8 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Texas Pacific Land by 0.4% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,093 shares of the financial services provider’s stock valued at $2,773,000 after purchasing an additional 9 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its stake in Texas Pacific Land by 5.0% in the first quarter. Meeder Advisory Services Inc. now owns 211 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 10 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TPL has been the subject of several recent analyst reports. Tudor Pickering raised shares of Texas Pacific Land to a “strong sell” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

Insider Buying and Selling at Texas Pacific Land

In related news, Director Eric L. Oliver purchased 100 shares of Texas Pacific Land stock in a transaction dated Thursday, August 21st. The stock was bought at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the acquisition, the director directly owned 393,600 shares of the company’s stock, valued at $346,867,872. This represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.90% of the stock is owned by company insiders.

Texas Pacific Land Stock Down 0.8%

Texas Pacific Land stock opened at $929.73 on Friday. The stock has a market capitalization of $21.37 billion, a PE ratio of 46.35 and a beta of 1.12. Texas Pacific Land Corporation has a twelve month low of $845.56 and a twelve month high of $1,769.14. The company has a 50 day moving average of $923.08 and a 200-day moving average of $1,062.73.

Texas Pacific Land (NYSE:TPL) last released its quarterly 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). The company had revenue of $187.54 million during the quarter, compared to analyst estimates of $198.00 million. Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Dividend Announcement

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

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.