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Adams Natural Resources Fund Inc. Has $5.76 Million Holdings in Texas Pacific Land Corporation $TPL

Texas Pacific Land logo with Energy background

Key Points

  • Adams Natural Resources Fund Inc. reduced its holdings in Texas Pacific Land Corporation by 93% during the second quarter, now owning only 5,450 shares valued at approximately $5.76 million.
  • Texas Pacific Land revealed a quarterly earnings miss with earnings per share at $5.05, falling short of analysts' predictions of $5.48.
  • The company also announced a $1.60 quarterly dividend with a current annualized payout of $6.40, giving it a dividend yield of 0.7%.
  • Interested in Texas Pacific Land? Here are five stocks we like better.

Adams Natural Resources Fund Inc. cut its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 93.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,450 shares of the financial services provider's stock after selling 72,850 shares during the quarter. Texas Pacific Land accounts for about 0.9% of Adams Natural Resources Fund Inc.'s investment portfolio, making the stock its 27th largest holding. Adams Natural Resources Fund Inc.'s holdings in Texas Pacific Land were worth $5,757,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TPL. Hemington Wealth Management boosted its position in Texas Pacific Land by 66.7% during the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock worth $26,000 after acquiring an additional 8 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Texas Pacific Land by 110.0% during the 1st 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 during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Texas Pacific Land during the 1st quarter valued at about $28,000. Allworth Financial LP lifted its holdings in shares of Texas Pacific Land by 42.1% during the 1st 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 during the last quarter. Finally, GW&K Investment Management LLC lifted its holdings in shares of Texas Pacific Land by 237.5% during the 1st 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 during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $929.41 on Wednesday. The stock's 50 day simple moving average is $920.84 and its 200 day simple moving average is $1,066.45. 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 market capitalization of $21.36 billion, a price-to-earnings ratio of 46.33 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $198.00 million.

Texas Pacific Land Announces Dividend

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

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Texas Pacific Land in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold".

Get Our Latest Stock Report on TPL

Insider Buying and Selling at Texas Pacific Land

In related news, Director Eric L. Oliver acquired 100 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were acquired at an average cost of $881.27 per share, with a total value of $88,127.00. Following the purchase, the director owned 393,600 shares of the company's stock, valued at approximately $346,867,872. The trade was a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.90% of the company's stock.

Texas Pacific Land Company Profile

(Free Report)

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.

Read More

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Institutional Ownership by Quarter for Texas Pacific Land (NYSE:TPL)

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