SteelPeak Wealth LLC Acquires 26 Shares of Texas Pacific Land Corporation $TPL

SteelPeak Wealth LLC grew its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 14.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 208 shares of the financial services provider’s stock after buying an additional 26 shares during the period. SteelPeak Wealth LLC’s holdings in Texas Pacific Land were worth $219,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hemington Wealth Management raised its stake in Texas Pacific Land by 66.7% in the 1st 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 position in shares of Texas Pacific Land by 110.0% in the 1st 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 in the last quarter. Zions Bancorporation National Association UT acquired a new position in Texas Pacific Land during the 1st quarter worth approximately $28,000. Allworth Financial LP increased its position in Texas Pacific Land by 42.1% during the 1st 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 increased its position in Texas Pacific Land by 237.5% during the 1st 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 own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Texas Pacific Land

In related news, Director Eric L. Oliver bought 100 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were acquired at an average cost of $881.27 per share, with a total value of $88,127.00. Following the completion of the purchase, the director directly owned 393,600 shares in the company, valued at $346,867,872. The trade was a 0.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.90% of the stock is currently owned by corporate insiders.

Texas Pacific Land Stock Down 4.7%

Shares of NYSE TPL opened at $908.57 on Friday. The firm has a market cap of $20.88 billion, a PE ratio of 45.29 and a beta of 1.12. Texas Pacific Land Corporation has a 12-month low of $845.56 and a 12-month high of $1,769.14. The company’s fifty day simple moving average is $918.52 and its 200 day simple moving average is $1,089.27.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.48 by ($0.43). The company had revenue of $187.54 million for the quarter, compared to the consensus estimate of $198.00 million. Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid 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 yield of 0.7%. Texas Pacific Land’s dividend payout ratio is currently 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.