O Domhnaill Enterprises Inc. Acquires 3,443 Shares of Texas Pacific Land Corporation $TPL

O Domhnaill Enterprises Inc. boosted its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 2,037.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,612 shares of the financial services provider’s stock after acquiring an additional 3,443 shares during the period. O Domhnaill Enterprises Inc.’s holdings in Texas Pacific Land were worth $1,581,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Spectrum Investment Advisors Inc. purchased a new stake in Texas Pacific Land in the second quarter worth about $347,000. Pictet Asset Management Holding SA lifted its holdings in shares of Texas Pacific Land by 4.6% during the second quarter. Pictet Asset Management Holding SA now owns 24,355 shares of the financial services provider’s stock valued at $10,659,000 after purchasing an additional 1,064 shares during the last quarter. Ascentis Wealth Management LLC purchased a new position in shares of Texas Pacific Land during the second quarter valued at approximately $249,000. Chicago Partners Investment Group LLC boosted its position in shares of Texas Pacific Land by 41.3% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 1,900 shares of the financial services provider’s stock worth $809,000 after purchasing an additional 555 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Texas Pacific Land by 0.9% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 125,579 shares of the financial services provider’s stock worth $54,958,000 after purchasing an additional 1,177 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

TPL has been the topic of several recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Texas Pacific Land in a research note on Wednesday, July 29th. Zacks Research raised Texas Pacific Land from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $639.00.

Insider Buying and Selling at Texas Pacific Land

In related news, CFO Chris Steddum sold 830 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $400.33, for a total value of $332,273.90. Following the completion of the transaction, the chief financial officer directly owned 12,040 shares in the company, valued at $4,819,973.20. The trade was a 6.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is owned by company insiders.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $359.22 on Friday. The company has a market capitalization of $24.78 billion, a price-to-earnings ratio of 45.78 and a beta of 0.60. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The company’s 50-day moving average is $389.05 and its 200 day moving average is $422.15.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.05. The business had revenue of $246.10 million during the quarter, compared to analysts’ expectations of $249.50 million. Texas Pacific Land had a net margin of 60.32% and a return on equity of 35.76%. As a group, research analysts predict that Texas Pacific Land Corporation will post 8.88 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Texas Pacific Land’s dividend payout ratio (DPR) is 30.57%.

Texas Pacific Land Profile

Texas Pacific Land Corporation (NYSE: TPL) is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company’s origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.

The company’s primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.