Caxton Associates LLP Invests $363,000 in Texas Pacific Land Corporation $TPL

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

Several other hedge funds and other institutional investors also recently modified their holdings of TPL. Hemington Wealth Management raised its position in shares of Texas Pacific Land by 66.7% in the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 8 shares during the period. Golden State Wealth Management LLC raised its position in shares of Texas Pacific Land by 110.0% in the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 11 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of Texas Pacific Land in the first quarter valued at approximately $28,000. Allworth Financial LP raised its position in shares of Texas Pacific Land by 42.1% in the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 8 shares during the period. Finally, GW&K Investment Management LLC raised its position in shares of Texas Pacific Land by 237.5% in the first quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 19 shares during the period. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Up 0.1%

NYSE:TPL traded up $1.17 during mid-day trading on Thursday, hitting $914.17. 128,948 shares of the stock traded hands, compared to its average volume of 118,234. The business's 50-day moving average price is $933.03 and its 200 day moving average price is $1,130.84. The company has a market cap of $21.02 billion, a PE ratio of 45.57 and a beta of 1.19. Texas Pacific Land Corporation has a 12-month low of $845.56 and a 12-month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 EPS for the quarter, missing the consensus estimate of $5.48 by ($0.43). The firm had revenue of $187.54 million for 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Texas Pacific Land's payout ratio is currently 31.90%.

Insider Buying and Selling

In related news, Director Eric L. Oliver purchased 100 shares of the business's stock in a transaction on Thursday, August 21st. The stock was acquired at an average price of $881.27 per share, with a total value of $88,127.00. Following the purchase, the director directly owned 393,600 shares in the company, valued at approximately $346,867,872. This represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have purchased 230 shares of company stock valued at $212,000. 6.50% of the stock is owned by insiders.

Texas Pacific Land 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.