Caitlin John LLC Takes Position in Texas Pacific Land Corporation $TPL

Key Points

• Caitlin John LLC invested approximately $1.02 million in Texas Pacific Land Corporation by purchasing 963 shares during the 2nd quarter.
• The company reported $5.05 EPS for the last quarter, missing analysts' estimates, with a revenue of $187.54 million compared to expectations of $198 million.
• Texas Pacific Land Corporation declared a quarterly dividend of $1.60 per share, yielding 0.7%, with a payout ratio of 31.90%.

Caitlin John LLC acquired a new stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 963 shares of the financial services provider's stock, valued at approximately $1,017,000.

A number of other large investors have also modified their holdings of TPL. Riversedge Advisors LLC raised its stake in Texas Pacific Land by 2.2% during the first quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider's stock worth $490,000 after acquiring an additional 8 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Texas Pacific Land by 42.1% during 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 in the last quarter. Hemington Wealth Management raised its position 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 buying an additional 8 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Texas Pacific Land by 13.0% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider's stock worth $103,000 after purchasing an additional 9 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised 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 acquiring an additional 9 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

NYSE TPL traded up $5.12 on Monday, reaching $880.22. The stock had a trading volume of 153,431 shares, compared to its average volume of 134,272. The company has a market cap of $20.24 billion, a P/E ratio of 43.88 and a beta of 1.19. Texas Pacific Land Corporation has a 1-year low of $845.56 and a 1-year high of $1,769.14. The firm has a fifty day moving average of $926.46 and a two-hundred day moving average of $1,121.06.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced 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). The business 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 31.90%.

Insider Buying and Selling

In related news, Director Eric L. Oliver bought 100 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were bought at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the acquisition, the director directly owned 393,600 shares of the company's stock, valued at $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 210 shares of company stock valued at $190,205 over the last ninety days. Company insiders own 6.50% of the company's stock.

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.