TriaGen Wealth Management LLC Sells 305 Shares of Texas Pacific Land Corporation $TPL

Key Points

• TriaGen Wealth Management LLC reduced its stake in Texas Pacific Land Corporation by 17.7%, now holding 1,421 shares worth approximately $1.5 million after selling 305 shares in the last quarter.
• Texas Pacific Land reported earnings per share (EPS) of $5.05 for the last quarter, falling short of analysts' expectations of $5.48, with revenue also below estimates at $187.54 million.
• The company declared a quarterly dividend of $1.60 per share, representing an annualized yield of 0.7% and a payout ratio of 31.90%.

TriaGen Wealth Management LLC cut its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 17.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,421 shares of the financial services provider's stock after selling 305 shares during the period. TriaGen Wealth Management LLC's holdings in Texas Pacific Land were worth $1,501,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TPL. Procyon Advisors LLC bought a new stake in shares of Texas Pacific Land in the first quarter worth $229,000. Gateway Investment Advisers LLC bought a new position in Texas Pacific Land during the 1st quarter worth $554,000. Wedmont Private Capital lifted its holdings in Texas Pacific Land by 26.3% during the 1st quarter. Wedmont Private Capital now owns 307 shares of the financial services provider's stock worth $379,000 after buying an additional 64 shares during the period. RDA Financial Network bought a new stake in shares of Texas Pacific Land in the 1st quarter valued at about $220,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Texas Pacific Land by 3.3% in the first quarter. Farther Finance Advisors LLC now owns 344 shares of the financial services provider's stock valued at $465,000 after buying an additional 11 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Trading Up 3.5%

Shares of Texas Pacific Land stock opened at $978.54 on Tuesday. The business has a 50-day moving average price of $921.07 and a two-hundred day moving average price of $1,094.20. Texas Pacific Land Corporation has a 1-year low of $845.56 and a 1-year high of $1,769.14. The company has a market cap of $22.49 billion, a P/E ratio of 48.78 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 (EPS) for the quarter, missing analysts' consensus estimates 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 Announces Dividend

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

Analysts Set New Price Targets

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

Insider Activity at Texas Pacific Land

In related news, Director Eric L. Oliver acquired 100 shares of the stock in a transaction dated Thursday, August 21st. The stock was bought at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the purchase, the director directly owned 393,600 shares of the company's stock, valued at $346,867,872. The trade was a 0.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.90% of the stock is currently owned by company insiders.

About Texas Pacific Land

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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