Texas Pacific Land Corporation (NYSE:TPL) Shares Acquired by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Texas Pacific Land Corporation (NYSE: TPL) by 2.1%, holding 183,485 shares valued at approximately $243.12 million.
• Texas Pacific Land recently reported earnings of $5.05 per share, falling short of the consensus estimate of $5.48, with quarterly revenue of $187.54 million compared to expectations of $198 million.
• The company declared a quarterly dividend of $1.60 payable on September 16th, which translates to an annualized yield of 0.7% with a payout ratio of 31.90%.

Charles Schwab Investment Management Inc. grew its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 2.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 183,485 shares of the financial services provider's stock after acquiring an additional 3,850 shares during the period. Charles Schwab Investment Management Inc. owned about 0.80% of Texas Pacific Land worth $243,116,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. ASR Vermogensbeheer N.V. purchased a new stake in Texas Pacific Land during the 1st quarter worth approximately $16,297,000. Strategy Asset Managers LLC acquired a new position in Texas Pacific Land during the 1st quarter worth approximately $576,000. Hemington Wealth Management grew its holdings in Texas Pacific Land by 66.7% during the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock worth $26,000 after acquiring an additional 8 shares in the last quarter. Roberts Glore & Co. Inc. IL acquired a new position in Texas Pacific Land during the 1st quarter worth approximately $209,000. Finally, Vanguard Group Inc. grew its holdings 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 acquiring an additional 115,743 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Up 0.3%

NYSE TPL traded up $2.50 on Tuesday, hitting $857.33. 119,848 shares of the stock were exchanged, compared to its average volume of 170,357. Texas Pacific Land Corporation has a fifty-two week low of $766.51 and a fifty-two week high of $1,769.14. The company has a market cap of $19.71 billion, a PE ratio of 42.74 and a beta of 1.14. The company has a 50-day moving average price of $1,021.00 and a 200-day moving average price of $1,210.69.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 EPS 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 analyst estimates 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 is Tuesday, September 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. Texas Pacific Land's dividend payout ratio is presently 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.