APG Asset Management N.V. Lowers Stock Position in Texas Pacific Land Corporation $TPL

Key Points

• APG Asset Management N.V. reduced its stake in Texas Pacific Land Corporation by 8.6% in Q1, selling 1,175 shares and holding 12,431 shares valued at approximately $15 million.
• Texas Pacific Land reported a net margin of 62.16% and earnings of $5.05 per share, missing analysts' estimates by $0.43 in its latest earnings report.
• The company declared a quarterly dividend of $1.60 per share, with a payout ratio of 31.90%, set to be paid on September 16th.

APG Asset Management N.V. cut its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 8.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,431 shares of the financial services provider's stock after selling 1,175 shares during the quarter. APG Asset Management N.V. owned approximately 0.05% of Texas Pacific Land worth $15,248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hemington Wealth Management lifted its stake 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 worth $26,000 after purchasing an additional 8 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Texas Pacific Land by 110.0% during the first 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 stake in Texas Pacific Land during the first quarter worth approximately $28,000. Allworth Financial LP lifted its stake in Texas Pacific Land by 42.1% during the first 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 lifted its stake in Texas Pacific Land by 237.5% during the first 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 during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was purchased at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the purchase, the director directly owned 393,600 shares in the company, valued at $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 310 shares of company stock worth $301,078 in the last three months. 6.50% of the stock is owned by insiders.

Texas Pacific Land Trading Up 1.4%

TPL stock traded up $13.32 during trading on Friday, hitting $935.21. 106,692 shares of the company's stock were exchanged, compared to its average volume of 144,801. The business has a 50-day moving average price of $970.55 and a two-hundred day moving average price of $1,172.47. The stock has a market capitalization of $21.50 billion, a price-to-earnings ratio of 46.62 and a beta of 1.14. Texas Pacific Land Corporation has a 52-week low of $766.51 and a 52-week 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 for the quarter, missing the consensus estimate 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a dividend of $1.60 per share. 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 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.