Krilogy Financial LLC Has $3.01 Million Position in Texas Pacific Land Corporation $TPL

Krilogy Financial LLC increased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 232.8% during the 2nd quarter, Holdings Channel reports. The fund owned 6,882 shares of the financial services provider’s stock after acquiring an additional 4,814 shares during the period. Krilogy Financial LLC’s holdings in Texas Pacific Land were worth $3,012,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Summit Securities Group LLC raised its holdings in shares of Texas Pacific Land by 171.9% during 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 period. IFP Advisors Inc boosted its position in shares of Texas Pacific Land by 185.3% during the 4th quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 63 shares in the last quarter. Quarry LP acquired a new stake in shares of Texas Pacific Land in the 3rd quarter valued at about $29,000. Los Angeles Capital Management LLC acquired a new stake in shares of Texas Pacific Land in the 4th quarter valued at about $31,000. Finally, Silicon Valley Capital Partners bought a new stake in Texas Pacific Land in the 3rd quarter valued at about $33,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $348.13 on Friday. The company has a 50-day moving average price of $389.66 and a 200-day moving average price of $422.59. The stock has a market capitalization of $24.01 billion, a P/E ratio of 44.37 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.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.05. Texas Pacific Land had a net margin of 60.32% and a return on equity of 35.76%. The company had revenue of $246.10 million for the quarter, compared to analyst estimates of $249.50 million. As a group, equities research analysts anticipate that Texas Pacific Land Corporation will post 8.88 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Texas Pacific Land’s dividend payout ratio is 30.57%.

Insider Activity at Texas Pacific Land

In other news, CFO Chris Steddum sold 830 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $400.33, for a total value of $332,273.90. Following the transaction, the chief financial officer owned 12,040 shares in the company, valued at $4,819,973.20. This trade represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Texas Pacific Land in a research note on Wednesday, July 29th. Zacks Research raised Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $639.00.

About Texas Pacific Land

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.