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

TriaGen Wealth Management LLC lowered its position in Texas Pacific Land Corporation (NYSE:TPL) by 17.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

A number of other 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 during the first quarter valued at approximately $229,000. Gateway Investment Advisers LLC acquired a new stake in Texas Pacific Land in the 1st quarter valued at $554,000. Wedmont Private Capital increased its stake 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 valued at $379,000 after purchasing an additional 64 shares in the last quarter. RDA Financial Network bought a new stake in Texas Pacific Land during the 1st quarter valued at $220,000. Finally, Farther Finance Advisors LLC lifted 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 in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Texas Pacific Land in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Texas Pacific Land Trading Up 3.5%

NYSE TPL opened at $978.54 on Tuesday. The firm has a market capitalization of $22.49 billion, a P/E ratio of 48.78 and a beta of 1.12. The business has a fifty day simple moving average of $921.07 and a 200 day simple moving average of $1,094.20. Texas Pacific Land Corporation has a 12 month low of $845.56 and a 12 month high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last posted 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 return on equity of 39.47% and a net margin of 62.16%.The firm had revenue of $187.54 million for the quarter, compared to analysts’ expectations of $198.00 million.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a dividend of $1.60 per share. 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 payout ratio is 31.90%.

Insider Transactions at Texas Pacific Land

In other news, Director Eric L. Oliver acquired 100 shares of the firm’s stock in a transaction on Thursday, August 21st. The stock was purchased at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the purchase, the director owned 393,600 shares in the company, valued at approximately $346,867,872. This represents a 0.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.90% of the company’s stock.

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.