NBT Bank N A NY Acquires 275 Shares of Texas Pacific Land Corporation $TPL

Key Points

• NBT Bank N A NY increased its stake in Texas Pacific Land Corporation by 103.8%, acquiring an additional 275 shares to total 540 shares valued at $570,000.
• Institutional ownership of Texas Pacific Land stands at 59.94%, with several firms significantly increasing their positions during the first quarter of the year.
• Texas Pacific Land recently announced a quarterly dividend of $1.60 per share, reflecting an annualized yield of 0.7% and a payout ratio of 31.90%.

NBT Bank N A NY lifted its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 103.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 540 shares of the financial services provider's stock after purchasing an additional 275 shares during the period. NBT Bank N A NY's holdings in Texas Pacific Land were worth $570,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TPL. Hemington Wealth Management grew 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 buying an additional 8 shares in the last quarter. Golden State Wealth Management LLC grew its position in Texas Pacific Land by 110.0% during the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock worth $28,000 after buying an additional 11 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in Texas Pacific Land during the first quarter worth about $28,000. Allworth Financial LP grew 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 buying an additional 8 shares in the last quarter. Finally, GW&K Investment Management LLC grew its position in Texas Pacific Land by 237.5% during the first quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock worth $36,000 after buying an additional 19 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Texas Pacific Land Trading Down 0.9%

NYSE TPL opened at $951.39 on Thursday. The stock's 50 day moving average is $919.71 and its two-hundred day moving average is $1,092.29. The company has a market capitalization of $21.86 billion, a price-to-earnings ratio of 47.43 and a beta of 1.12. Texas Pacific Land Corporation has a 1-year low of $845.56 and a 1-year high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released 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). The company had revenue of $187.54 million for the quarter, compared to analyst estimates 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued 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 of this dividend was Tuesday, September 2nd. Texas Pacific Land's payout ratio is presently 31.90%.

Insider Buying and Selling

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 cost of $881.27 per share, with a total value of $88,127.00. Following the completion of the purchase, the director owned 393,600 shares of the company's stock, valued at $346,867,872. This represents 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 available through the SEC website. 6.90% of the stock is currently owned by company insiders.

Texas Pacific Land Company 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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