BNP Paribas Financial Markets Has $51.42 Million Stock Holdings in Texas Pacific Land Corporation $TPL

Key Points

• BNP Paribas Financial Markets increased its stake in Texas Pacific Land Corporation by 14.1%, owning approximately 0.17% of the company worth around $51.4 million after acquiring an additional 4,785 shares.
• Institutional investors and hedge funds now hold 59.94% of Texas Pacific Land's stock, with several firms like Vanguard and GAMMA Investing making significant increases in their holdings.
• Texas Pacific Land announced a quarterly dividend of $1.60 per share, representing an annualized dividend yield of 0.7% and a payout ratio of 31.90%.

BNP Paribas Financial Markets lifted its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 14.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,804 shares of the financial services provider's stock after purchasing an additional 4,785 shares during the period. BNP Paribas Financial Markets owned 0.17% of Texas Pacific Land worth $51,415,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CreativeOne Wealth LLC increased its holdings in shares of Texas Pacific Land by 16.1% in the first quarter. CreativeOne Wealth LLC now owns 260 shares of the financial services provider's stock valued at $344,000 after purchasing an additional 36 shares in the last quarter. Ieq Capital LLC grew its holdings in Texas Pacific Land by 1,287.6% during the 1st quarter. Ieq Capital LLC now owns 3,344 shares of the financial services provider's stock worth $4,431,000 after acquiring an additional 3,103 shares during the period. Corebridge Financial Inc. grew its holdings in Texas Pacific Land by 21.8% during the 1st quarter. Corebridge Financial Inc. now owns 6,076 shares of the financial services provider's stock worth $8,051,000 after acquiring an additional 1,086 shares during the period. ICONIQ Capital LLC acquired a new stake in Texas Pacific Land during the 1st quarter worth $254,000. Finally, Jump Financial LLC grew its holdings in Texas Pacific Land by 151.6% during the 1st quarter. Jump Financial LLC now owns 561 shares of the financial services provider's stock worth $743,000 after acquiring an additional 338 shares during the period. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Buying and Selling

In related news, Director Eric L. Oliver acquired 100 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were acquired at an average cost of $881.27 per share, with a total value of $88,127.00. Following the transaction, the director 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 290 shares of company stock valued at $278,442. Insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Performance

TPL traded up $9.25 during trading on Thursday, reaching $918.73. 47,079 shares of the company's stock were exchanged, compared to its average volume of 137,860. The company's fifty day moving average price is $963.35 and its 200-day moving average price is $1,164.81. Texas Pacific Land Corporation has a fifty-two week low of $766.51 and a fifty-two week high of $1,769.14. The firm has a market capitalization of $21.12 billion, a PE ratio of 45.78 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 earnings per share for the quarter, missing analysts' consensus estimates of $5.48 by ($0.43). The firm had revenue of $187.54 million for 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Pacific Land's payout ratio is currently 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.