Mirae Asset Global Investments Co. Ltd. Has $2.28 Million Holdings in Texas Pacific Land Corporation $TPL

Mirae Asset Global Investments Co. Ltd. grew its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 16.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,161 shares of the financial services provider's stock after buying an additional 309 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Texas Pacific Land were worth $2,283,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allworth Financial LP raised its position in Texas Pacific Land by 42.1% during the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock worth $36,000 after acquiring an additional 8 shares in the last quarter. Riversedge Advisors LLC raised its position in Texas Pacific Land by 2.2% during the first quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider's stock worth $490,000 after acquiring an additional 8 shares in the last quarter. Hemington Wealth Management raised its position in Texas Pacific Land by 66.7% during the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock worth $26,000 after acquiring an additional 8 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Texas Pacific Land by 0.4% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,093 shares of the financial services provider's stock worth $2,773,000 after acquiring an additional 9 shares in the last quarter. Finally, CVA Family Office LLC raised its position in Texas Pacific Land by 9.5% during the first quarter. CVA Family Office LLC now owns 115 shares of the financial services provider's stock worth $152,000 after acquiring an additional 10 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Wall Street Analysts Forecast Growth

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

Texas Pacific Land Stock Performance

NYSE:TPL opened at $951.39 on Thursday. Texas Pacific Land Corporation has a 52 week low of $845.56 and a 52 week high of $1,769.14. The firm has a market cap of $21.86 billion, a price-to-earnings ratio of 47.43 and a beta of 1.12. The firm's 50-day simple moving average is $919.71 and its 200 day simple moving average is $1,092.29.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly 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). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.The business had revenue of $187.54 million for the quarter, compared to the consensus estimate of $198.00 million.

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 paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio is presently 31.90%.

Insider Transactions at Texas Pacific Land

In other news, Director Eric L. Oliver acquired 100 shares of Texas Pacific Land stock in a transaction 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 purchase, the director directly owned 393,600 shares of the company's stock, valued at approximately $346,867,872. This represents a 0.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.90% of the stock is owned by insiders.

Texas Pacific Land Profile

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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