Nuveen LLC Buys Shares of 51,712 Texas Pacific Land Corporation (NYSE:TPL)

Key Points

• Nuveen LLC acquired 51,712 shares of Texas Pacific Land Corporation, valued at approximately $68.5 million, increasing their ownership to about 0.22% of the company.
• Texas Pacific Land reported a net margin of 62.16% and a return on equity of 39.47% in its latest earnings, although it missed earnings estimates by $0.43 per share.
• The company announced a quarterly dividend of $1.60, representing an annualized yield of 0.7%, with the dividend payout ratio standing at 31.90%.

Nuveen LLC purchased a new stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 51,712 shares of the financial services provider's stock, valued at approximately $68,518,000. Nuveen LLC owned about 0.22% of Texas Pacific Land at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TPL. Raymond James Financial Inc. acquired a new stake in Texas Pacific Land in the fourth quarter valued at $41,303,000. Bessemer Group Inc. lifted its stake in Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 13 shares during the last quarter. Townsquare Capital LLC lifted its stake in Texas Pacific Land by 44.3% in the fourth quarter. Townsquare Capital LLC now owns 430 shares of the financial services provider's stock valued at $476,000 after acquiring an additional 132 shares during the last quarter. Barclays PLC lifted its stake in Texas Pacific Land by 73.6% in the fourth quarter. Barclays PLC now owns 34,539 shares of the financial services provider's stock valued at $38,198,000 after acquiring an additional 14,647 shares during the last quarter. Finally, Mariner LLC lifted its stake in Texas Pacific Land by 12.5% in the fourth quarter. Mariner LLC now owns 11,926 shares of the financial services provider's stock valued at $13,190,000 after acquiring an additional 1,326 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Down 3.3%

Shares of NYSE TPL traded down $30.02 during mid-day trading on Friday, reaching $882.53. 185,803 shares of the company were exchanged, compared to its average volume of 169,302. The company's 50-day simple moving average is $1,008.33 and its 200-day simple moving average is $1,202.94. The stock has a market capitalization of $20.29 billion, a P/E ratio of 43.99 and a beta of 1.14. Texas Pacific Land Corporation has a twelve month low of $766.51 and a twelve month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its 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). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%. The company had revenue of $187.54 million for the quarter, compared to analyst estimates of $198.00 million.

Texas Pacific Land Dividend Announcement

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