Texas Pacific Land Corporation $TPL Shares Acquired by MGO One Seven LLC

Key Points

• MGO One Seven LLC increased its stake in Texas Pacific Land Corporation by 3.7% during Q2, now owning 0.06% of the company worth approximately $15.12 million.
• Texas Pacific Land recently reported $5.05 EPS, missing analyst estimates of $5.48, with a net margin of 62.16% and revenue of $187.54 million.
• The company declared a quarterly dividend of $1.60 per share, maintaining an annualized yield of 0.7% and a payout ratio of 31.90%.

MGO One Seven LLC lifted its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,312 shares of the financial services provider's stock after acquiring an additional 511 shares during the quarter. MGO One Seven LLC owned about 0.06% of Texas Pacific Land worth $15,120,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TPL. Hemington Wealth Management grew its position in Texas Pacific Land by 66.7% in 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 during the last quarter. Golden State Wealth Management LLC grew its position in Texas Pacific Land by 110.0% in 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 during the last quarter. Zions Bancorporation National Association UT acquired a new position in Texas Pacific Land in the first quarter worth approximately $28,000. Allworth Financial LP grew its position in Texas Pacific Land by 42.1% in 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 during the last quarter. Finally, GW&K Investment Management LLC grew its position in Texas Pacific Land by 237.5% in 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 during the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Buying and Selling

In other news, Director Eric L. Oliver acquired 100 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was purchased at an average price of $881.27 per share, with a total value of $88,127.00. Following the purchase, the director owned 393,600 shares of the company's stock, valued at approximately $346,867,872. This trade represents a 0.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 6.90% of the company's stock.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $890.97 on Monday. The company has a 50 day moving average price of $917.60 and a 200 day moving average price of $1,082.37. 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 capitalization of $20.47 billion, a price-to-earnings ratio of 44.42 and a beta of 1.12.

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 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 firm had revenue of $187.54 million during the quarter, compared to analyst estimates of $198.00 million.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $1.60 dividend. The ex-dividend date of this dividend 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 currently 31.90%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated 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, Based on data from MarketBeat.com, the company currently has an average rating of "Hold".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.