Twin Tree Management LP Purchases 1,105 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Twin Tree Management LP raised its position in Texas Pacific Land Corporation by 368.3%, acquiring an additional 1,105 shares during the second quarter, bringing its total to 1,405 shares worth approximately $1,484,000.
• Texas Pacific Land Corporation's stock has seen mixed performance, reporting earnings per share of $5.05 for the last quarter, which was $0.43 below analysts' expectations.
• Insider trading activity included Director Eric L. Oliver purchasing 100 shares at an average price of $881.27 each, increasing his holdings to approximately $346.87 million total value.

Twin Tree Management LP lifted its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 368.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,405 shares of the financial services provider's stock after acquiring an additional 1,105 shares during the quarter. Twin Tree Management LP's holdings in Texas Pacific Land were worth $1,484,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TPL. Hemington Wealth Management raised its holdings 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 purchasing an additional 8 shares in the last quarter. Golden State Wealth Management LLC raised its holdings 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 purchasing an additional 11 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Texas Pacific Land in the first quarter worth about $28,000. Allworth Financial LP raised its holdings 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 holdings 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. 59.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Texas Pacific Land in a report on Tuesday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold".

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver purchased 100 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were acquired at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the purchase, the director owned 393,600 shares of the company's stock, valued at approximately $346,867,872. The trade was a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.90% of the company's stock.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $936.25 on Friday. Texas Pacific Land Corporation has a fifty-two week low of $845.56 and a fifty-two week high of $1,769.14. The firm has a market capitalization of $21.52 billion, a price-to-earnings ratio of 46.67 and a beta of 1.12. The stock's 50-day simple moving average is $916.27 and its 200-day simple moving average is $1,074.55.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results 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). 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 analysts' expectations of $198.00 million.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $1.60 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. Texas Pacific Land's payout ratio is presently 31.90%.

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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