Groupama Asset Managment Makes New Investment in Texas Pacific Land Corporation $TPL

Groupama Asset Managment bought a new position in Texas Pacific Land Corporation (NYSE:TPL) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,747 shares of the financial services provider’s stock, valued at approximately $1,844,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hemington Wealth Management raised its stake 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 worth $26,000 after purchasing an additional 8 shares during the period. Meeder Advisory Services Inc. raised its holdings in Texas Pacific Land by 5.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 211 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 10 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Texas Pacific Land by 2.2% in the first quarter. Chicago Partners Investment Group LLC now owns 461 shares of the financial services provider’s stock worth $619,000 after buying an additional 10 shares during the period. Evergreen Capital Management LLC lifted its stake in shares of Texas Pacific Land by 0.7% in the 1st quarter. Evergreen Capital Management LLC now owns 1,351 shares of the financial services provider’s stock valued at $1,790,000 after purchasing an additional 10 shares during the period. Finally, Insight Wealth Partners LLC boosted its holdings in shares of Texas Pacific Land by 5.6% during the 2nd quarter. Insight Wealth Partners LLC now owns 208 shares of the financial services provider’s stock valued at $220,000 after buying an additional 11 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Up 0.2%

Shares of NYSE TPL opened at $864.29 on Friday. The stock has a market capitalization of $19.86 billion, a price-to-earnings ratio of 43.09 and a beta of 1.12. Texas Pacific Land Corporation has a 12-month low of $838.27 and a 12-month high of $1,692.51. The firm’s 50-day moving average price is $932.24 and its 200-day moving average price is $998.72.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, November 5th. The financial services provider reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.77 by ($0.50). The firm had revenue of $203.10 million during the quarter, compared to the consensus estimate of $175.00 million. Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $1.60 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. Texas Pacific Land’s dividend payout ratio is 30.92%.

Wall Street Analyst Weigh In

TPL has been the topic of a number of recent research reports. Tudor Pickering raised Texas Pacific Land to a “strong sell” rating in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research note on Monday. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

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.