Texas Pacific Land Corporation $TPL Shares Purchased by Schwartz Investment Counsel Inc.

Key Points

• Schwartz Investment Counsel Inc. increased its stake in Texas Pacific Land Corporation by 2.1%, now holding 154,033 shares, making it their largest investment at approximately $162.7 million.
• Insider Eric L. Oliver purchased 100 shares at $881.27 each, increasing his total to 393,600 shares valued at around $346.9 million.
• Texas Pacific Land's stock has a current market capitalization of $21.53 billion and reported quarterly earnings of $5.05 per share, missing estimates by $0.43.

Schwartz Investment Counsel Inc. grew its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 2.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 154,033 shares of the financial services provider's stock after buying an additional 3,210 shares during the period. Texas Pacific Land makes up 5.4% of Schwartz Investment Counsel Inc.'s investment portfolio, making the stock its biggest holding. Schwartz Investment Counsel Inc. owned about 0.67% of Texas Pacific Land worth $162,719,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Hemington Wealth Management raised its position in shares of Texas Pacific Land by 66.7% during the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after buying an additional 8 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of 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 valued at $28,000 after buying an additional 11 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Texas Pacific Land during the first quarter valued at about $28,000. Allworth Financial LP raised 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 purchasing an additional 8 shares in the last quarter. Finally, GW&K Investment Management LLC raised 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 purchasing an additional 19 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Insiders Place Their Bets

In other news, Director Eric L. Oliver bought 100 shares of the business's stock in a transaction on Thursday, August 21st. The shares were bought at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the acquisition, the director owned 393,600 shares in the company, valued at approximately $346,867,872. This trade represents a 0.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.90% of the company's stock.

Texas Pacific Land Price Performance

TPL opened at $937.07 on Tuesday. Texas Pacific Land Corporation has a one year low of $845.56 and a one year high of $1,769.14. The company's 50 day simple moving average is $919.39 and its 200-day simple moving average is $1,067.41. The stock has a market capitalization of $21.53 billion, a P/E ratio of 46.71 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced 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). Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%. The business had revenue of $187.54 million during the quarter, compared to analyst estimates of $198.00 million.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a $1.60 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $6.40 annualized dividend and a yield of 0.7%. Texas Pacific Land's dividend payout ratio (DPR) is 31.90%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Texas Pacific Land in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold".

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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