Pacific Heights Asset Management LLC acquired 590,000 shares of Texas Pacific Land Corporation during the second quarter. The new stake is valued at approximately $258.2 million according to a recent SEC filing.
Texas Pacific Land now represents 8.2% of the firm's portfolio, making it their largest position. The investment accounts for roughly 0.86% of the company's total outstanding shares.
The company recently reported quarterly earnings of $2.23 per share, exceeding analyst expectations. Quarterly revenue reached $246.1 million, finishing slightly below consensus estimates.
Texas Pacific Land declared a quarterly dividend of $0.60 per share. Wall Street analysts currently maintain a consensus Hold rating on the stock.