Credit Agricole S A Has $7.18 Million Holdings in Texas Pacific Land Corporation $TPL

Key Points

• Credit Agricole S A increased its stake in Texas Pacific Land Corporation by 8.9%, acquiring an additional 441 shares to reach a total of 5,418 shares, valued at approximately $7.18 million.
• Texas Pacific Land recently reported earnings of $5.05 EPS, which fell short of analysts’ expectations of $5.48, alongside a revenue of $187.54 million against projections of $198 million.
• The company declared a quarterly dividend of $1.60 per share, to be paid on September 16th, with a current dividend yield of 0.7%.

Credit Agricole S A increased its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 8.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,418 shares of the financial services provider's stock after purchasing an additional 441 shares during the period. Credit Agricole S A's holdings in Texas Pacific Land were worth $7,179,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of TPL. Hemington Wealth Management lifted 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 buying an additional 8 shares in the last quarter. Golden State Wealth Management LLC increased its holdings 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 worth $28,000 after purchasing an additional 11 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Texas Pacific Land during the 1st quarter worth about $28,000. Allworth Financial LP grew its holdings 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 valued at $36,000 after acquiring an additional 8 shares in the last quarter. Finally, GW&K Investment Management LLC grew its holdings 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 valued at $36,000 after acquiring an additional 19 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Performance

Texas Pacific Land stock traded up $1.16 during midday trading on Wednesday, reaching $912.20. 25,392 shares of the company's stock were exchanged, compared to its average volume of 138,070. Texas Pacific Land Corporation has a 52 week low of $766.51 and a 52 week high of $1,769.14. The firm has a market cap of $20.97 billion, a price-to-earnings ratio of 45.62 and a beta of 1.14. The stock's 50-day simple moving average is $980.06 and its 200 day simple moving average is $1,181.64.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data 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 return on equity of 39.47% and a net margin of 62.16%.The company had revenue of $187.54 million for the quarter, compared to analyst estimates of $198.00 million.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be 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 is Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 31.90%.

Insider Activity

In related news, Director Eric L. Oliver purchased 100 shares of the stock in a transaction dated Thursday, August 21st. The stock was bought 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 owned 393,600 shares of the company's stock, valued at approximately $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 the SEC website. Insiders have acquired 320 shares of company stock worth $313,259 in the last three months. 6.50% of the stock is currently owned by corporate insiders.

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.