274 Shares in Texas Pacific Land Corporation $TPL Bought by Caxton Associates LLP

Key Points

• Caxton Associates LLP has purchased 274 shares of Texas Pacific Land Corporation, valued at approximately $363,000, during the first quarter.
• Vanguard Group increased its stake in TPL by 4.9%, now owning over 2.46 million shares worth around $3.27 billion.
• The quarterly earnings report showed an EPS of $5.05, missing estimates, while the company also declared a quarterly $1.60 dividend to be paid to shareholders.

Caxton Associates LLP purchased a new position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 274 shares of the financial services provider's stock, valued at approximately $363,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TPL. Vanguard Group Inc. raised its stake in shares of Texas Pacific Land by 4.9% in the first quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider's stock valued at $3,267,588,000 after acquiring an additional 115,743 shares during the period. GAMMA Investing LLC lifted its stake in shares of Texas Pacific Land by 241,048.0% during the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock worth $479,278,000 after acquiring an additional 361,572 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Texas Pacific Land by 2.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 183,485 shares of the financial services provider's stock worth $243,116,000 after acquiring an additional 3,850 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its stake in shares of Texas Pacific Land by 0.4% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 150,823 shares of the financial services provider's stock worth $199,839,000 after acquiring an additional 642 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Texas Pacific Land by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 126,347 shares of the financial services provider's stock worth $167,386,000 after acquiring an additional 2,623 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $936.99 on Friday. Texas Pacific Land Corporation has a 52-week low of $801.40 and a 52-week high of $1,769.14. The firm has a market capitalization of $21.54 billion, a P/E ratio of 46.71 and a beta of 1.19. The stock has a 50 day moving average price of $942.73 and a 200 day moving average price of $1,143.27.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.48 by ($0.43). The firm had revenue of $187.54 million during the quarter, compared to analysts' expectations of $198.00 million. Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a $1.60 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. Texas Pacific Land's payout ratio is presently 31.90%.

Insider Activity

In other news, Director Eric L. Oliver purchased 100 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was purchased at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the acquisition, the director owned 393,600 shares of the company's stock, valued at approximately $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders purchased a total of 250 shares of company stock valued at $233,885 in the last ninety days. 6.50% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding TPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Pacific Land Corporation (NYSE:TPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.