BNP Paribas Financial Markets Raises 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 raised its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 14.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,804 shares of the financial services provider's stock after purchasing an additional 4,785 shares during the quarter. BNP Paribas Financial Markets owned 0.17% of Texas Pacific Land worth $51,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Riversedge Advisors LLC grew its stake in Texas Pacific Land by 2.2% in the 1st quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider's stock valued at $490,000 after purchasing an additional 8 shares during the period. Allworth Financial LP grew its stake in Texas Pacific Land by 42.1% in the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 8 shares during the period. Hemington Wealth Management grew its stake in Texas Pacific Land by 66.7% in the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 8 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in Texas Pacific Land by 13.0% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider's stock valued at $103,000 after purchasing an additional 9 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Texas Pacific Land by 0.4% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,093 shares of the financial services provider's stock valued at $2,773,000 after purchasing an additional 9 shares during the period. Institutional investors own 59.94% of the company's stock.

Insider Activity at Texas Pacific Land

In other news, Director Eric L. Oliver purchased 100 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were purchased at an average price of $881.27 per share, with a total value of $88,127.00. Following the transaction, the director directly owned 393,600 shares of the company's stock, valued at approximately $346,867,872. This represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders acquired 280 shares of company stock worth $267,306. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Stock Performance

NYSE:TPL traded down $25.32 during trading on Friday, reaching $903.61. The company's stock had a trading volume of 26,754 shares, compared to its average volume of 137,457. The firm has a market cap of $20.77 billion, a price-to-earnings ratio of 45.06 and a beta of 1.19. The firm has a 50 day moving average of $960.43 and a 200-day moving average of $1,161.73. Texas Pacific Land Corporation has a 12 month low of $766.51 and a 12 month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 EPS 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 firm had revenue of $187.54 million for the quarter, compared to analysts' expectations of $198.00 million.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio is currently 31.90%.

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.