Dynamic Technology Lab Private Ltd Purchases Shares of 340 Texas Pacific Land Corporation $TPL

Key Points

• Dynamic Technology Lab Private Ltd acquired 340 shares of Texas Pacific Land Corporation in Q1, valued at approximately $451,000.
• Texas Pacific Land reported Q2 earnings of $5.05 per share, missing expectations of $5.48, and had a revenue of $187.54 million, below the anticipated $198 million.
• The company declared a quarterly dividend of $1.60 per share, with a payout ratio of 31.90%, to be paid on September 16th.

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 340 shares of the financial services provider's stock, valued at approximately $451,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TPL. Hemington Wealth Management lifted its position in Texas Pacific Land by 66.7% during the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after buying 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 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock worth $28,000 after purchasing an additional 11 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Texas Pacific Land in the 1st quarter worth about $28,000. Allworth Financial LP raised its position in shares of Texas Pacific Land by 42.1% in the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock worth $36,000 after purchasing an additional 8 shares during the last quarter. Finally, GW&K Investment Management LLC increased its holdings in Texas Pacific Land by 237.5% in the 1st quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock worth $36,000 after buying an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Buying and Selling

In other Texas Pacific Land news, Director Eric L. Oliver acquired 100 shares of Texas Pacific Land stock in a transaction that occurred on Thursday, August 21st. The stock was bought at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the acquisition, the director owned 393,600 shares of the company's stock, valued at $346,867,872. This represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders bought 230 shares of company stock valued at $212,000. 6.50% of the stock is currently owned by company insiders.

Texas Pacific Land Price Performance

NYSE TPL traded down $3.33 during trading hours on Wednesday, hitting $932.35. The company's stock had a trading volume of 15,432 shares, compared to its average volume of 136,324. Texas Pacific Land Corporation has a 12 month low of $845.56 and a 12 month high of $1,769.14. The company's 50 day simple moving average is $938.35 and its two-hundred day simple moving average is $1,135.40. The company has a market cap of $21.43 billion, a P/E ratio of 46.48 and a beta of 1.19.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released 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). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.The business had revenue of $187.54 million during the quarter, compared to the consensus estimate of $198.00 million.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio (DPR) is presently 31.90%.

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.