295 Shares in Texas Pacific Land Corporation $TPL Bought by Callan Family Office LLC

Callan Family Office LLC bought a new position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 295 shares of the financial services provider's stock, valued at approximately $312,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TPL. Hemington Wealth Management increased its holdings 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 buying an additional 8 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Texas Pacific Land by 110.0% in the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after buying an additional 11 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in Texas Pacific Land in the first quarter valued at $28,000. Allworth Financial LP increased its holdings in Texas Pacific Land by 42.1% in the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after buying an additional 8 shares in the last quarter. Finally, GW&K Investment Management LLC increased its holdings in Texas Pacific Land by 237.5% in the first quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock valued at $36,000 after buying an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Texas Pacific Land in a report on Tuesday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold".

Insiders Place Their Bets

In other Texas Pacific Land news, Director Eric L. Oliver purchased 100 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were purchased at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the transaction, the director owned 393,600 shares of the company's stock, valued at $346,867,872. The trade was a 0.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 6.90% of the company's stock.

Texas Pacific Land Stock Up 1.0%

TPL stock opened at $936.25 on Friday. The stock has a market capitalization of $21.52 billion, a P/E ratio of 46.67 and a beta of 1.12. The firm has a 50-day simple moving average of $916.27 and a 200-day simple moving average of $1,074.55. Texas Pacific Land Corporation has a 52 week low of $845.56 and a 52 week high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 EPS for the quarter, missing analysts' consensus estimates of $5.48 by ($0.43). The company had revenue of $187.54 million for the quarter, compared to analysts' expectations of $198.00 million. Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a dividend of $1.60 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. Texas Pacific Land's payout ratio is presently 31.90%.

About Texas Pacific Land

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.

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