BI Asset Management Fondsmaeglerselskab A S Has $3.94 Million Stake in Texas Pacific Land Corporation $TPL

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Texas Pacific Land Corporation ($TPL) by 504.5%, holding a total of 2,974 shares valued at $3.94 million.
• Other institutional investors, including Hemington Wealth Management and Golden State Wealth Management, also significantly grew their stakes in Texas Pacific Land during the first quarter.
• Texas Pacific Land declared a quarterly dividend of $1.60 per share, with a 0.7% yield, and a payout ratio of 31.90% as reported in its latest earnings results.

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 504.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,974 shares of the financial services provider's stock after acquiring an additional 2,482 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Texas Pacific Land were worth $3,941,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPL. Hemington Wealth Management grew its holdings in shares of Texas Pacific Land by 66.7% in the 1st 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 grew 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 buying an additional 11 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Texas Pacific Land during the first quarter worth approximately $28,000. Allworth Financial LP raised its stake 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 acquiring an additional 8 shares during the last quarter. Finally, GW&K Investment Management LLC raised 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 acquiring an additional 19 shares during the last quarter. 59.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Eric L. Oliver acquired 100 shares of the stock in a transaction on Thursday, August 14th. The stock was purchased at an average price of $915.00 per share, for a total transaction of $91,500.00. Following the transaction, the director owned 393,400 shares of the company's stock, valued at $359,961,000. The trade was a 0.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have bought 240 shares of company stock worth $250,715. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Price Performance

NYSE TPL opened at $895.6940 on Thursday. The stock's 50 day simple moving average is $996.01 and its 200 day simple moving average is $1,195.34. Texas Pacific Land Corporation has a one year low of $766.51 and a one year high of $1,769.14. The firm has a market cap of $20.59 billion, a PE ratio of 44.65 and a beta of 1.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given 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 dividend payout ratio is 31.90%.

Texas Pacific Land Company 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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