Candriam S.C.A. Has $2.16 Million Stake in Texas Pacific Land Corporation $TPL

Key Points

• Candriam S.C.A. has significantly increased its stake in Texas Pacific Land Corporation, growing its holdings by 538% in the first quarter, now valued at approximately $2.16 million.
• Other institutional investors, including Vanguard Group and GAMMA Investing LLC, have also increased their positions in Texas Pacific Land, reflecting a growing interest with institutional ownership now at 59.94%.
• Texas Pacific Land Corporation recently reported a quarterly earnings miss, with an earnings per share of $5.05, falling short of analyst estimates of $5.48, amidst lower revenue of $187.54 million compared to expectations.

Candriam S.C.A. grew its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 538.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,627 shares of the financial services provider's stock after acquiring an additional 1,372 shares during the quarter. Candriam S.C.A.'s holdings in Texas Pacific Land were worth $2,156,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Texas Pacific Land by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider's stock worth $3,267,588,000 after purchasing an additional 115,743 shares in the last quarter. GAMMA Investing LLC increased its holdings in Texas Pacific Land by 241,048.0% in the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock worth $479,278,000 after purchasing an additional 361,572 shares in the last quarter. Northern Trust Corp increased its holdings in Texas Pacific Land by 21.8% in the 4th quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock worth $248,584,000 after purchasing an additional 40,185 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Texas Pacific Land by 2.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 183,485 shares of the financial services provider's stock worth $243,116,000 after purchasing an additional 3,850 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. increased its stake in shares of Texas Pacific Land by 0.4% in the first quarter. Schwartz Investment Counsel Inc. now owns 150,823 shares of the financial services provider's stock valued at $199,839,000 after buying an additional 642 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $909.2570 on Friday. The business has a 50 day moving average of $987.42 and a 200-day moving average of $1,187.68. Texas Pacific Land Corporation has a 1 year low of $766.51 and a 1 year high of $1,769.14. The company has a market capitalization of $20.90 billion, a P/E ratio of 45.33 and a beta of 1.14.

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 (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $187.54 million during the quarter, compared to analyst estimates of $198.00 million.

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 issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio is presently 31.90%.

Insiders Place Their Bets

In related news, Director Eric L. Oliver acquired 100 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was acquired at an average cost 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 approximately $346,867,872. This trade represents a 0.03% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders acquired 330 shares of company stock valued at $326,165 in the last three months. Corporate insiders own 6.50% of the company's stock.

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.

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