Apollon Wealth Management LLC Acquires 369 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Apollon Wealth Management LLC increased its stake in Texas Pacific Land Corporation by 46.9% to own a total of 1,156 shares, valued at $1,221,000 as of its latest SEC filing.
• Several hedge funds, including Vanguard Group Inc. and Charles Schwab Investment Management Inc., have also raised their stakes in Texas Pacific Land during the first quarter, indicating strong institutional interest.
• Texas Pacific Land Corporation recently announced a quarterly dividend of $1.60, reflecting an annualized payout of $6.40 with a yield of 0.7%, and has a payout ratio of 31.90%.

Apollon Wealth Management LLC lifted its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 46.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,156 shares of the financial services provider's stock after purchasing an additional 369 shares during the quarter. Apollon Wealth Management LLC's holdings in Texas Pacific Land were worth $1,221,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in TPL. Vanguard Group Inc. raised 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 valued at $3,267,588,000 after buying an additional 115,743 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Texas Pacific Land by 2.1% during 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 buying an additional 3,850 shares during the last quarter. Schwartz Investment Counsel Inc. raised its stake in Texas Pacific Land by 0.4% during 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 buying an additional 642 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Texas Pacific Land by 2.1% during 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 buying an additional 2,623 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Texas Pacific Land by 23.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,999 shares of the financial services provider's stock valued at $120,573,000 after buying an additional 17,066 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Insider Transactions at Texas Pacific Land

In other news, Director Eric L. Oliver acquired 100 shares of Texas Pacific Land stock in a transaction on Thursday, August 21st. The shares were acquired at an average price of $881.27 per share, with a total value of $88,127.00. Following the purchase, the director directly owned 393,600 shares in the company, valued at $346,867,872. The trade was a 0.03% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.90% of the stock is currently owned by insiders.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $908.50 on Wednesday. The stock has a 50-day simple moving average of $915.47 and a two-hundred day simple moving average of $1,078.29. Texas Pacific Land Corporation has a 52-week low of $845.56 and a 52-week high of $1,769.14. The firm has a market capitalization of $20.88 billion, a PE ratio of 45.29 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data 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 return on equity of 39.47% and a net margin of 62.16%.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $1.60 dividend. The ex-dividend date of this dividend was 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 presently 31.90%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Texas Pacific Land in a research note on Tuesday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

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.

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