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DOW   26,779.53 (-0.34%)
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DOW   26,779.53 (-0.34%)
S&P 500   3,204.62 (-0.68%)
DOW   26,779.53 (-0.34%)
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Texas Pacific Land Trust (NYSE:TPL) Major Shareholder Buys $92,367.44 in Stock

Last updated on Tuesday, July 14, 2020 | 2020 MarketBeat

Texas Pacific Land Trust (NYSE:TPL) major shareholder Kinetics Asset Managem Horizon purchased 172 shares of the firm's stock in a transaction on Monday, July 13th. The stock was bought at an average price of $537.02 per share, with a total value of $92,367.44. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Kinetics Asset Managem Horizon also recently made the following trade(s):

  • On Friday, July 10th, Kinetics Asset Managem Horizon bought 172 shares of Texas Pacific Land Trust stock. The shares were acquired at an average price of $547.00 per share, with a total value of $94,084.00.
  • On Wednesday, July 8th, Kinetics Asset Managem Horizon bought 172 shares of Texas Pacific Land Trust stock. The shares were acquired at an average price of $561.01 per share, with a total value of $96,493.72.
  • On Monday, July 6th, Kinetics Asset Managem Horizon bought 236 shares of Texas Pacific Land Trust stock. The shares were acquired at an average price of $569.99 per share, with a total value of $134,517.64.
  • On Wednesday, July 1st, Kinetics Asset Managem Horizon bought 236 shares of Texas Pacific Land Trust stock. The shares were acquired at an average price of $578.40 per share, with a total value of $136,502.40.
  • On Monday, June 29th, Kinetics Asset Managem Horizon bought 236 shares of Texas Pacific Land Trust stock. The shares were acquired at an average price of $570.01 per share, with a total value of $134,522.36.
  • On Friday, June 26th, Kinetics Asset Managem Horizon bought 236 shares of Texas Pacific Land Trust stock. The shares were acquired at an average price of $572.15 per share, with a total value of $135,027.40.
  • On Wednesday, June 24th, Kinetics Asset Managem Horizon bought 236 shares of Texas Pacific Land Trust stock. The shares were acquired at an average price of $572.00 per share, with a total value of $134,992.00.
  • On Monday, June 22nd, Kinetics Asset Managem Horizon bought 236 shares of Texas Pacific Land Trust stock. The shares were acquired at an average price of $614.11 per share, with a total value of $144,929.96.
  • On Friday, June 19th, Kinetics Asset Managem Horizon bought 936 shares of Texas Pacific Land Trust stock. The shares were acquired at an average price of $624.04 per share, with a total value of $584,101.44.
  • On Wednesday, June 17th, Kinetics Asset Managem Horizon bought 236 shares of Texas Pacific Land Trust stock. The shares were acquired at an average price of $625.12 per share, with a total value of $147,528.32.

Shares of TPL stock traded up $15.28 on Tuesday, hitting $552.30. 207 shares of the stock traded hands, compared to its average volume of 19,371. The company has a debt-to-equity ratio of 0.01, a current ratio of 13.83 and a quick ratio of 13.83. The company has a market capitalization of $4.25 billion, a PE ratio of 17.81 and a beta of 1.98. Texas Pacific Land Trust has a 1-year low of $295.05 and a 1-year high of $838.50. The company's fifty day moving average is $598.50 and its 200 day moving average is $614.13.

Texas Pacific Land Trust (NYSE:TPL) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $7.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $7.19 by $0.21. The business had revenue of $96.59 million for the quarter, compared to analyst estimates of $93.00 million. Texas Pacific Land Trust had a return on equity of 53.43% and a net margin of 60.22%. As a group, equities research analysts expect that Texas Pacific Land Trust will post 27.82 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of TPL. FMR LLC increased its position in Texas Pacific Land Trust by 291.6% in the first quarter. FMR LLC now owns 11,355 shares of the financial services provider's stock worth $8,785,000 after buying an additional 8,455 shares during the period. Victory Capital Management Inc. increased its position in Texas Pacific Land Trust by 19.3% in the fourth quarter. Victory Capital Management Inc. now owns 327 shares of the financial services provider's stock worth $255,000 after buying an additional 53 shares during the period. Envestnet Asset Management Inc. increased its position in Texas Pacific Land Trust by 15.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,492 shares of the financial services provider's stock worth $1,947,000 after buying an additional 332 shares during the period. Great West Life Assurance Co. Can acquired a new stake in Texas Pacific Land Trust in the fourth quarter worth $347,000. Finally, Advisor Group Inc. increased its position in Texas Pacific Land Trust by 10.8% in the fourth quarter. Advisor Group Inc. now owns 297 shares of the financial services provider's stock worth $233,000 after buying an additional 29 shares during the period. 43.73% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently issued reports on TPL. TheStreet raised Texas Pacific Land Trust from a "c+" rating to a "b-" rating in a research report on Friday, May 22nd. Zacks Investment Research raised Texas Pacific Land Trust from a "hold" rating to a "strong-buy" rating and set a $674.00 price target on the stock in a research report on Tuesday, June 2nd.

About Texas Pacific Land Trust

Texas Pacific Land Trust holds title to tracts of land in the state of Texas. The company operates through two segments, Land and Resource Management, and Water Service and Operations. It sells, leases, and manages these lands for the benefit of the holders of Certificates of Proprietary Interest in the Trust.

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