340 Shares in Texas Pacific Land Corporation $TPL Bought by Dynamic Technology Lab Private Ltd

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 bought a new position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 340 shares of the financial services provider's stock, valued at approximately $451,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hemington Wealth Management grew its stake in 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 purchasing an additional 8 shares in the last quarter. Golden State Wealth Management LLC grew its stake in Texas Pacific Land by 110.0% during 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 in the last quarter. Zions Bancorporation National Association UT acquired a new position in Texas Pacific Land during the 1st quarter worth $28,000. Allworth Financial LP grew its stake in Texas Pacific Land by 42.1% during 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 in the last quarter. Finally, GW&K Investment Management LLC grew its stake in Texas Pacific Land by 237.5% during the 1st quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock worth $36,000 after purchasing an additional 19 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

TPL opened at $940.54 on Friday. The stock has a market capitalization of $21.62 billion, a price-to-earnings ratio of 46.89 and a beta of 1.19. The business has a fifty day moving average price of $945.51 and a 200 day moving average price of $1,145.70. Texas Pacific Land Corporation has a 12 month low of $789.17 and a 12 month high of $1,769.14.

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 business had revenue of $187.54 million for the quarter, compared to analysts' expectations of $198.00 million. Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.

Texas Pacific Land Dividend Announcement

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

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver purchased 100 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was bought at an average cost of $881.27 per share, with a total value of $88,127.00. Following the acquisition, the director directly owned 393,600 shares of the company's stock, valued at approximately $346,867,872. This represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders bought 250 shares of company stock worth $233,885. 6.50% of the stock is owned by insiders.

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.

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