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

Other institutional investors also recently modified their holdings of the company. Hemington Wealth Management increased 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 valued at $26,000 after purchasing an additional 8 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings 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 worth $28,000 after buying 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 first quarter worth approximately $28,000. Allworth Financial LP boosted its holdings 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 worth $36,000 after buying an additional 8 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its holdings 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 worth $36,000 after buying an additional 19 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Up 0.3%

NYSE:TPL traded up $2.44 during trading hours on Thursday, hitting $915.44. 37,016 shares of the stock traded hands, compared to its average volume of 136,516. Texas Pacific Land Corporation has a 1 year low of $845.56 and a 1 year high of $1,769.14. The company has a market cap of $21.04 billion, a price-to-earnings ratio of 45.73 and a beta of 1.19. The stock has a 50 day moving average price of $935.75 and a 200 day moving average price of $1,133.88.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $198.00 million.

Texas Pacific Land Announces Dividend

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

Insider Activity

In related news, Director Eric L. Oliver acquired 100 shares of Texas Pacific Land stock in a transaction dated Thursday, August 21st. The shares were purchased at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the transaction, the director directly owned 393,600 shares in the company, valued at approximately $346,867,872. This represents a 0.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 230 shares of company stock worth $212,000 in the last quarter. 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.