Ipswich Investment Management Co. Inc. increased its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 6.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,535 shares of the financial services provider's stock after buying an additional 290 shares during the period. Texas Pacific Land accounts for 1.2% of Ipswich Investment Management Co. Inc.'s investment portfolio, making the stock its 27th biggest position. Ipswich Investment Management Co. Inc.'s holdings in Texas Pacific Land were worth $4,791,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Hemington Wealth Management boosted its holdings in Texas Pacific Land by 66.7% in the 1st 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 during the period. Golden State Wealth Management LLC boosted its holdings in Texas Pacific Land by 110.0% in the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 11 shares during the period. Zions Bancorporation National Association UT bought a new position in Texas Pacific Land in the 1st quarter valued at $28,000. Allworth Financial LP boosted its holdings in Texas Pacific Land by 42.1% in the 1st 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. Finally, GW&K Investment Management LLC boosted its holdings in Texas Pacific Land by 237.5% in the 1st quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 19 shares during the period. 59.94% of the stock is owned by institutional investors.
Insider Activity
In other news, Director Eric L. Oliver acquired 100 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were purchased at an average price 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.50% of the company's stock.
Texas Pacific Land Price Performance
Shares of NYSE:TPL opened at $955.57 on Friday. The firm has a fifty day moving average price of $922.27 and a two-hundred day moving average price of $1,113.10. Texas Pacific Land Corporation has a one year low of $845.56 and a one year high of $1,769.14. The company has a market cap of $21.97 billion, a price-to-earnings ratio of 47.64 and a beta of 1.19.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a $1.60 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. Texas Pacific Land's payout ratio is presently 31.90%.
Texas Pacific Land 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.
Further Reading
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