APG Asset Management N.V. Sells 1,175 Shares of 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. decreased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm 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 0.05% of Texas Pacific Land worth $15,248,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Toronto Dominion Bank increased its holdings in shares of Texas Pacific Land by 173.6% during the 4th quarter. Toronto Dominion Bank now owns 6,364 shares of the financial services provider's stock worth $7,038,000 after purchasing an additional 4,038 shares during the period. Spring Capital Management LLC bought a new position in shares of Texas Pacific Land during the 1st quarter worth about $5,008,000. ProShare Advisors LLC increased its holdings in shares of Texas Pacific Land by 347.0% during the 4th quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider's stock worth $4,059,000 after purchasing an additional 2,849 shares during the period. AustralianSuper Pty Ltd increased its holdings in shares of Texas Pacific Land by 4.8% during the 1st quarter. AustralianSuper Pty Ltd now owns 8,591 shares of the financial services provider's stock worth $11,383,000 after purchasing an additional 391 shares during the period. Finally, Golden State Wealth Management LLC increased its holdings in shares of 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 during the period. Institutional investors own 59.94% of the company's stock.

Insider Buying and Selling

In other news, Director Eric L. Oliver purchased 100 shares of Texas Pacific Land stock in a transaction on Thursday, August 21st. The shares were purchased at an average cost 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 330 shares of company stock valued at $326,165 in the last quarter. 6.50% of the stock is owned by insiders.

Texas Pacific Land Stock Up 3.3%

NYSE TPL opened at $909.2570 on Monday. The stock has a market cap of $20.90 billion, a P/E ratio of 45.33 and a beta of 1.14. The company's 50-day simple moving average is $987.42 and its 200 day simple moving average is $1,186.66. 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 for the quarter, missing analysts' consensus estimates of $5.48 by ($0.43). The business had revenue of $187.54 million during the quarter, compared to the consensus estimate of $198.00 million. Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Dividend Announcement

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

Texas Pacific Land Profile

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.

Want to see what other hedge funds are holding TPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Pacific Land Corporation (NYSE:TPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.