Mediolanum International Funds Ltd Decreases Stock Holdings in Texas Pacific Land Corporation $TPL

Mediolanum International Funds Ltd reduced its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 21.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,022 shares of the financial services provider’s stock after selling 1,685 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Texas Pacific Land were worth $6,356,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Hemington Wealth Management boosted 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 acquiring an additional 8 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in Texas Pacific Land by 5.0% during the first 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 during the last quarter. Chicago Partners Investment Group LLC raised its holdings in Texas Pacific Land by 2.2% during the first quarter. Chicago Partners Investment Group LLC now owns 461 shares of the financial services provider’s stock worth $619,000 after purchasing an additional 10 shares during the last quarter. Evergreen Capital Management LLC boosted its position in Texas Pacific Land by 0.7% during the first quarter. Evergreen Capital Management LLC now owns 1,351 shares of the financial services provider’s stock worth $1,790,000 after purchasing an additional 10 shares in the last quarter. Finally, Insight Wealth Partners LLC grew its holdings in Texas Pacific Land by 5.6% in the second quarter. Insight Wealth Partners LLC now owns 208 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 11 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TPL has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Monday, November 17th. Tudor Pickering upgraded shares of Texas Pacific Land to a “strong sell” rating in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Texas Pacific Land presently has an average rating of “Reduce”.

Texas Pacific Land Stock Up 1.6%

TPL opened at $897.67 on Friday. The firm has a market cap of $20.63 billion, a P/E ratio of 44.75 and a beta of 1.12. The business’s fifty day simple moving average is $936.79 and its 200 day simple moving average is $1,012.25. Texas Pacific Land Corporation has a 52 week low of $845.56 and a 52 week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $5.27 earnings per share 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 analyst estimates of $175.00 million. Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Dividend Announcement

The company 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 dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. Texas Pacific Land’s dividend payout ratio is presently 30.92%.

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.