AQR Capital Management LLC Has $101.97 Million Position in Texas Pacific Land Corporation $TPL

Key Points

• AQR Capital Management LLC increased its holdings in Texas Pacific Land Corporation by 5.5%, acquiring an additional 4,175 shares, bringing their total to 80,294 shares worth approximately $102 million.
• Texas Pacific Land Corporation reported earnings per share (EPS) of $5.05 for the last quarter, missing estimates by $0.43, and generated revenue of $187.54 million, below the expected $198 million.
• The company declared a quarterly dividend of $1.60 per share, with an ex-dividend date of September 2nd, resulting in an annualized yield of 0.7%.

AQR Capital Management LLC raised its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 80,294 shares of the financial services provider's stock after buying an additional 4,175 shares during the quarter. AQR Capital Management LLC owned 0.35% of Texas Pacific Land worth $101,974,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TPL. BNP Paribas Financial Markets acquired a new position in Texas Pacific Land in the 4th quarter valued at approximately $37,624,000. BOKF NA increased its stake in shares of Texas Pacific Land by 2.4% during the 4th quarter. BOKF NA now owns 953 shares of the financial services provider's stock worth $1,054,000 after purchasing an additional 22 shares during the last quarter. Centiva Capital LP acquired a new position in shares of Texas Pacific Land during the 4th quarter worth $353,000. Cetera Investment Advisers increased its stake in shares of Texas Pacific Land by 3.2% during the 4th quarter. Cetera Investment Advisers now owns 1,758 shares of the financial services provider's stock worth $1,945,000 after purchasing an additional 54 shares during the last quarter. Finally, Crestline Management LP acquired a new position in shares of Texas Pacific Land during the 4th quarter worth $451,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Down 1.2%

Shares of TPL traded down $11.27 during mid-day trading on Tuesday, hitting $901.31. 107,433 shares of the company's stock were exchanged, compared to its average volume of 137,978. The firm has a fifty day moving average of $954.29 and a two-hundred day moving average of $1,151.34. Texas Pacific Land Corporation has a twelve month low of $766.51 and a twelve month high of $1,769.14. The stock has a market cap of $20.72 billion, a price-to-earnings ratio of 44.93 and a beta of 1.19.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 EPS for the quarter, missing the consensus estimate of $5.48 by ($0.43). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.The business had revenue of $187.54 million for the quarter, compared to analyst estimates of $198.00 million.

Texas Pacific Land Announces Dividend

The company also recently announced 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. This represents a $6.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 31.90%.

Insider Buying and Selling

In other news, Director Eric L. Oliver bought 100 shares of the company's stock in a transaction that occurred on 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 acquisition, the director directly owned 393,600 shares of the company's stock, valued at $346,867,872. The trade was a 0.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have acquired 270 shares of company stock valued at $256,166. 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.