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

Key Points

• Krilogy Financial increased its Texas Pacific Land stake by 232.8% in the second quarter, bringing its holdings to 6,882 shares valued at approximately $3.01 million. Institutional investors collectively own 59.94% of TPL.
• Analyst sentiment remains neutral, with a consensus “Hold” rating and a $639 price target. Ratings include one Buy, two Holds, and one Sell.
• Texas Pacific Land beat quarterly earnings expectations, reporting $2.23 in EPS versus $2.18 expected, while revenue of $246.1 million fell short of estimates. The company declared a $0.60 quarterly dividend, equivalent to a 0.7% yield.

Krilogy Financial LLC raised its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 232.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TPL. Summit Securities Group LLC boosted its stake in shares of Texas Pacific Land by 171.9% in the 4th 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 in the last quarter. IFP Advisors Inc increased its position in Texas Pacific Land by 185.3% in the 4th quarter. IFP Advisors Inc now owns 97 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 63 shares during the period. Quarry LP bought a new position in shares of Texas Pacific Land during the third quarter valued at $29,000. Los Angeles Capital Management LLC acquired a new position in shares of Texas Pacific Land during the fourth quarter worth $31,000. Finally, Silicon Valley Capital Partners acquired a new position in shares of Texas Pacific Land during the third quarter worth $33,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Analyst Upgrades and Downgrades

TPL has been the subject of a number of recent research reports. Weiss Ratings restated a "hold (c+)" rating on shares of Texas Pacific Land in a report on Wednesday, July 29th. Zacks Research raised Texas Pacific Land from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $639.00.

Insider Activity at Texas Pacific Land

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

Texas Pacific Land Stock Up 1.6%

Shares of NYSE TPL opened at $348.13 on Friday. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The firm has a fifty day simple moving average of $389.66 and a 200 day simple moving average of $422.59. The company has a market capitalization of $24.01 billion, a PE ratio of 44.37 and a beta of 0.60.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.23 EPS for the quarter, beating 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 business had revenue of $246.10 million for the quarter, compared to analysts' expectations of $249.50 million. As a group, equities analysts expect that Texas Pacific Land Corporation will post 8.88 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The firm 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Pacific Land's payout ratio is currently 30.57%.

Texas Pacific Land Company Profile

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.

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