Cim LLC Increases Holdings in Texas Pacific Land Corporation $TPL

Key Points

• Cim LLC increased its stake in Texas Pacific Land Corporation (NYSE:TPL) by 89.5%, now holding 3,043 shares valued at approximately $4.03 million.
• Other hedge funds, including Golden State Wealth Management and GW&K Investment Management, also boosted their holdings in TPL significantly during the same quarter.
• Texas Pacific Land recently announced a quarterly dividend of $1.60 per share, with a payout ratio of 31.90%, and a dividend yield of 0.7%.

Cim LLC raised its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 89.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,043 shares of the financial services provider's stock after buying an additional 1,437 shares during the period. Cim LLC's holdings in Texas Pacific Land were worth $4,032,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TPL. Hemington Wealth Management raised its stake 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 valued at $26,000 after buying an additional 8 shares during the last quarter. Golden State Wealth Management LLC raised its stake in Texas Pacific Land by 110.0% during the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after buying an additional 11 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Texas Pacific Land in the 1st quarter worth $28,000. Allworth Financial LP increased its stake in shares of Texas Pacific Land by 42.1% in the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock worth $36,000 after purchasing an additional 8 shares in the last quarter. Finally, GW&K Investment Management LLC increased its stake in shares of Texas Pacific Land by 237.5% in the 1st quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock worth $36,000 after purchasing an additional 19 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were purchased at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the transaction, the director owned 393,600 shares of the company's stock, valued at $346,867,872. This represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have bought 250 shares of company stock worth $233,885. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Price Performance

NYSE:TPL opened at $940.54 on Friday. The firm has a market capitalization of $21.62 billion, a price-to-earnings ratio of 46.89 and a beta of 1.19. Texas Pacific Land Corporation has a one year low of $789.17 and a one year high of $1,769.14. The business has a fifty day moving average price of $945.51 and a 200-day moving average price of $1,145.70.

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 EPS for the quarter, missing the consensus estimate of $5.48 by ($0.43). The company had revenue of $187.54 million during the quarter, compared to analysts' expectations 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend 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 31.90%.

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.

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