Vivid Wealth Management LLC Acquires 2,181 Shares of Texas Pacific Land Corporation $TPL

Vivid Wealth Management LLC grew its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 45.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,965 shares of the financial services provider’s stock after acquiring an additional 2,181 shares during the quarter. Texas Pacific Land accounts for approximately 1.1% of Vivid Wealth Management LLC’s holdings, making the stock its 27th biggest holding. Vivid Wealth Management LLC’s holdings in Texas Pacific Land were worth $3,048,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TPL. Horizon Kinetics Asset Management LLC boosted its stake in shares of Texas Pacific Land by 194.9% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 10,333,762 shares of the financial services provider’s stock valued at $2,968,063,000 after purchasing an additional 6,829,070 shares in the last quarter. Vanguard Group Inc. raised its position in Texas Pacific Land by 192.8% in the 4th quarter. Vanguard Group Inc. now owns 7,556,966 shares of the financial services provider’s stock worth $2,170,512,000 after purchasing an additional 4,975,738 shares during the period. State Street Corp raised its position in Texas Pacific Land by 206.8% in the 4th quarter. State Street Corp now owns 3,587,004 shares of the financial services provider’s stock worth $1,030,259,000 after purchasing an additional 2,417,705 shares during the period. Geode Capital Management LLC raised its position in Texas Pacific Land by 203.7% in the 4th quarter. Geode Capital Management LLC now owns 1,759,107 shares of the financial services provider’s stock worth $503,581,000 after purchasing an additional 1,179,788 shares during the period. Finally, SoftVest Advisors LLC lifted its stake in Texas Pacific Land by 200.0% in the fourth quarter. SoftVest Advisors LLC now owns 1,180,800 shares of the financial services provider’s stock worth $339,149,000 after purchasing an additional 787,200 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $348.13 on Friday. The firm has a market cap of $24.01 billion, a PE ratio of 44.37 and a beta of 0.60. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20. The business has a 50 day moving average price of $389.66 and a 200-day moving average price of $422.59.

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

Texas Pacific Land Announces Dividend

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

Wall Street Analyst Weigh In

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

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 830 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $400.33, for a total value of $332,273.90. Following the transaction, the chief financial officer owned 12,040 shares in the company, valued at approximately $4,819,973.20. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is currently owned by company insiders.

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.