Confluence Wealth Services Inc. Has $1.55 Million Holdings in Texas Pacific Land Corporation $TPL

Confluence Wealth Services Inc. cut its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 1.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,465 shares of the financial services provider’s stock after selling 22 shares during the period. Confluence Wealth Services Inc.’s holdings in Texas Pacific Land were worth $1,547,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Hemington Wealth Management raised its holdings in shares of Texas Pacific Land by 66.7% during the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 8 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Texas Pacific Land by 110.0% during the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 11 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Texas Pacific Land in the 1st quarter valued at approximately $28,000. Allworth Financial LP increased its position in Texas Pacific Land by 42.1% in the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider’s stock worth $36,000 after buying an additional 8 shares during the period. Finally, GW&K Investment Management LLC lifted its holdings in shares of Texas Pacific Land by 237.5% during the first quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider’s stock worth $36,000 after buying an additional 19 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Texas Pacific Land news, Director Eric L. Oliver acquired 100 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was bought 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 $346,867,872. This represents a 0.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Down 2.3%

Shares of TPL opened at $945.95 on Monday. The stock’s 50-day moving average price is $921.00 and its 200 day moving average price is $1,096.27. The firm has a market capitalization of $21.74 billion, a price-to-earnings ratio of 47.16 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.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing the consensus estimate of $5.48 by ($0.43). The firm had revenue of $187.54 million for the quarter, compared to analyst estimates 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Texas Pacific Land’s payout ratio is 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.