ASR Vermogensbeheer N.V. Sells 698 Shares of Texas Pacific Land Corporation $TPL

Key Points

• ASR Vermogensbeheer N.V. has reduced its stake in Texas Pacific Land Corporation by 5.7%, selling 698 shares in the second quarter.
• In addition to ASR, several institutional investors have increased their positions in Texas Pacific Land, with Hemington Wealth Management growing its stake by 66.7% in the first quarter.
• The company reported $5.05 earnings per share in its latest earnings release, missing analyst expectations of $5.48, and has a net margin of 62.16% with a market capitalization of $22.23 billion.

ASR Vermogensbeheer N.V. reduced its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,604 shares of the financial services provider's stock after selling 698 shares during the period. ASR Vermogensbeheer N.V. owned approximately 0.05% of Texas Pacific Land worth $12,260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TPL. Hemington Wealth Management grew its stake in shares of Texas Pacific Land by 66.7% in the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 8 shares in the last quarter. Golden State Wealth Management LLC grew its position 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 in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Texas Pacific Land during the first quarter worth approximately $28,000. Allworth Financial LP raised its position 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 valued at $36,000 after buying an additional 8 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its stake 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 valued at $36,000 after buying an additional 19 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Texas Pacific Land

In other news, Director Eric L. Oliver purchased 100 shares of Texas Pacific Land stock in a transaction that occurred on Thursday, August 21st. The shares were acquired at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the transaction, the director owned 393,600 shares of the company's stock, valued at approximately $346,867,872. The trade was a 0.03% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $967.54 on Friday. The business's 50 day simple moving average is $921.67 and its 200 day simple moving average is $1,102.90. 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 capitalization of $22.23 billion, a P/E ratio of 48.23 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released 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). Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%. The company had revenue of $187.54 million for the quarter, compared to the consensus estimate of $198.00 million.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a $1.60 dividend. 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 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.

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