AG2R LA Mondiale Gestion D Actifs Makes New Investment in Texas Pacific Land Corporation $TPL

Key Points

• AG2R LA Mondiale Gestion D Actifs has made a new investment in Texas Pacific Land Corporation by purchasing 1,423 shares valued at approximately $1.88 million, according to a recent SEC filing.
• Vanguard and other institutional investors have significantly increased their stakes in Texas Pacific Land, with Vanguard raising its ownership by 4.9%.
• Texas Pacific Land declared a quarterly dividend of $1.60, which reflects an annualized dividend yield of 0.7% and a payout ratio of 31.90%.

AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,423 shares of the financial services provider's stock, valued at approximately $1,885,000.

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

Texas Pacific Land Trading Down 0.2%

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

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 net margin of 62.16% and a return on equity of 39.47%. The firm had revenue of $187.54 million during the quarter, compared to the consensus estimate of $198.00 million.

Texas Pacific Land Dividend Announcement

The business 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 of this dividend 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 dividend payout ratio (DPR) is currently 31.90%.

Insider Buying and Selling at Texas Pacific Land

In related news, Director Eric L. Oliver purchased 100 shares of the stock in a transaction that occurred 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 completion of the acquisition, the director directly owned 393,600 shares in the company, valued at approximately $346,867,872. This trade represents a 0.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased a total of 250 shares of company stock valued at $233,885 over the last three months. Company insiders own 6.50% of the company's stock.

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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