Blue Trust Inc. Raises Stock Position in Texas Pacific Land Corporation $TPL

Key Points

• Blue Trust Inc. increased its stake in Texas Pacific Land Corporation by 3.3%, now holding 29,741 shares worth $31.4 million.
• Vanguard Group also raised its holdings by 4.9%, further demonstrating growing institutional interest in Texas Pacific Land.
• Texas Pacific Land's stock is currently down 4.7% and reported earnings of $5.05 per share, missing consensus estimates.

Blue Trust Inc. lifted its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,741 shares of the financial services provider's stock after acquiring an additional 960 shares during the quarter. Blue Trust Inc. owned 0.13% of Texas Pacific Land worth $31,418,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TPL. Vanguard Group Inc. raised its holdings in Texas Pacific Land by 4.9% during the first 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Texas Pacific Land by 2.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 183,485 shares of the financial services provider's stock worth $243,116,000 after purchasing an additional 3,850 shares in the last quarter. Schwartz Investment Counsel Inc. grew its holdings in Texas Pacific Land by 0.4% in the first quarter. Schwartz Investment Counsel Inc. now owns 150,823 shares of the financial services provider's stock valued at $199,839,000 after purchasing an additional 642 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Texas Pacific Land by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 126,347 shares of the financial services provider's stock valued at $167,386,000 after buying an additional 2,623 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake 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 worth $120,573,000 after buying an additional 17,066 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of Texas Pacific Land in a research note on Saturday, September 27th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold".

Insider Buying and Selling

In other Texas Pacific Land news, Director Eric L. Oliver purchased 100 shares of the business's stock in a transaction on Thursday, August 21st. The stock was bought at an average cost 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. The trade was a 0.03% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 6.90% of the company's stock.

Texas Pacific Land Stock Down 4.7%

NYSE TPL opened at $908.57 on Friday. Texas Pacific Land Corporation has a fifty-two week low of $845.56 and a fifty-two week high of $1,769.14. The business has a fifty day moving average of $918.52 and a 200-day moving average of $1,089.27. The stock has a market cap of $20.88 billion, a price-to-earnings ratio of 45.29 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced 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 firm had revenue of $187.54 million during the quarter, compared to analyst estimates of $198.00 million.

Texas Pacific Land Dividend Announcement

The company also recently announced 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 dividend payout ratio (DPR) is 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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