Cim LLC Buys 1,437 Shares of 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 increased its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 89.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,043 shares of the financial services provider's stock after purchasing an additional 1,437 shares during the period. Cim LLC's holdings in Texas Pacific Land were worth $4,032,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TPL. GAMMA Investing LLC lifted its holdings in shares of Texas Pacific Land by 241,048.0% during the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock valued at $479,278,000 after purchasing an additional 361,572 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 valued at $3,267,588,000 after purchasing an additional 115,743 shares in the last quarter. Nuveen LLC bought a new position in shares of Texas Pacific Land during the 1st quarter valued at about $68,518,000. CW Advisors LLC bought a new position in shares of Texas Pacific Land during the 1st quarter valued at about $31,919,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Texas Pacific Land by 23.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,999 shares of the financial services provider's stock valued at $120,573,000 after purchasing an additional 17,066 shares in the last quarter. Institutional investors own 59.94% of the company's stock.

Insiders Place Their Bets

In other news, Director Eric L. Oliver purchased 100 shares of Texas Pacific Land stock in a transaction on Thursday, August 21st. The stock was purchased at an average price of $881.27 per share, with a total value of $88,127.00. Following the transaction, the director directly owned 393,600 shares in the company, valued at $346,867,872. The trade was a 0.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders purchased 230 shares of company stock worth $212,000. Corporate insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Performance

NYSE TPL traded up $2.39 during trading on Wednesday, hitting $938.06. The stock had a trading volume of 34,886 shares, compared to its average volume of 136,427. Texas Pacific Land Corporation has a 12 month low of $845.56 and a 12 month high of $1,769.14. The company's 50-day moving average price is $938.35 and its two-hundred day moving average price is $1,135.40. The company has a market capitalization of $21.57 billion, a PE ratio of 46.82 and a beta of 1.19.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing analysts' consensus estimates 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 company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. Texas Pacific Land's dividend payout ratio is 31.90%.

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.