Brooklyn Investment Group Has $665,000 Position in Texas Pacific Land Corporation $TPL

Key Points

• Brooklyn Investment Group significantly increased its holdings in Texas Pacific Land Corporation by 3,246.7% in the first quarter, raising their investment to approximately $665,000 after acquiring additional shares.
• Texas Pacific Land recently announced a quarterly dividend of $1.60 per share, reflecting an annualized rate of $6.40 and a dividend yield of 0.7%.
• The company reported earnings of $5.05 per share for the last quarter, falling short of analysts' expectations, with a revenue of $187.54 million against a consensus estimate of $198.00 million.

Brooklyn Investment Group increased its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 3,246.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 502 shares of the financial services provider's stock after purchasing an additional 487 shares during the quarter. Brooklyn Investment Group's holdings in Texas Pacific Land were worth $665,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cresset Asset Management LLC lifted its position in Texas Pacific Land by 97.9% during the first quarter. Cresset Asset Management LLC now owns 3,070 shares of the financial services provider's stock worth $4,067,000 after purchasing an additional 1,519 shares during the period. Ethic Inc. lifted its position in Texas Pacific Land by 18.7% during the first quarter. Ethic Inc. now owns 3,408 shares of the financial services provider's stock worth $4,610,000 after purchasing an additional 538 shares during the period. Element Capital Management LLC bought a new stake in Texas Pacific Land during the first quarter worth about $2,661,000. Aberdeen Group plc lifted its position in Texas Pacific Land by 156.5% during the first quarter. Aberdeen Group plc now owns 14,294 shares of the financial services provider's stock worth $18,733,000 after purchasing an additional 8,721 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Texas Pacific Land by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 126,347 shares of the financial services provider's stock worth $167,386,000 after purchasing an additional 2,623 shares during the period. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Price Performance

TPL traded up $28.9770 on Friday, hitting $909.2570. 104,210 shares of the stock were exchanged, compared to its average volume of 138,363. Texas Pacific Land Corporation has a 12 month low of $766.51 and a 12 month high of $1,769.14. The business has a 50-day moving average of $991.59 and a two-hundred day moving average of $1,192.19. The firm has a market capitalization of $20.90 billion, a price-to-earnings ratio of 45.33 and a beta of 1.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share 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 firm had revenue of $187.54 million for the quarter, compared to the consensus estimate of $198.00 million.

Texas Pacific Land Announces Dividend

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

Insider Activity at Texas Pacific Land

In related news, Director Eric L. Oliver bought 100 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was purchased at an average price of $915.00 per share, with a total value of $91,500.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 230 shares of company stock valued at $238,038 over the last three months. 6.50% of the stock is currently owned by corporate insiders.

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.