Texas Pacific Land Corporation (NYSE:TPL) Shares Purchased by Cumberland Partners Ltd

Key Points

• Cumberland Partners Ltd significantly increased its stake in Texas Pacific Land Corporation by 117.4%, owning 2,500 shares valued at approximately $3.31 million.
• Texas Pacific Land recently reported a missed earnings estimate, with an EPS of $5.24 compared to the expected $5.27, and revenue of $195.98 million below the $211 million estimate.
• The company declared a quarterly dividend of $1.60, translating to an annual yield of 0.7%, with a dividend payout ratio of 32.02%.

Cumberland Partners Ltd increased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 117.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,500 shares of the financial services provider's stock after purchasing an additional 1,350 shares during the quarter. Cumberland Partners Ltd's holdings in Texas Pacific Land were worth $3,312,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake 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 worth $479,278,000 after purchasing an additional 361,572 shares during the period. Invesco Ltd. boosted its holdings in Texas Pacific Land by 203.4% during the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after buying an additional 200,841 shares in the last quarter. Northern Trust Corp grew its position in Texas Pacific Land by 21.8% during the fourth quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock worth $248,584,000 after buying an additional 40,185 shares during the period. Schwartz Investment Counsel Inc. increased its holdings in 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Texas Pacific Land by 943.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock valued at $133,883,000 after acquiring an additional 109,455 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Trading Down 0.5%

Shares of NYSE:TPL traded down $5.23 during trading on Wednesday, hitting $953.59. 87,626 shares of the stock were exchanged, compared to its average volume of 136,910. The company has a market cap of $21.92 billion, a PE ratio of 47.70 and a beta of 1.14. The company has a fifty day moving average price of $1,048.54 and a two-hundred day moving average price of $1,228.79. Texas Pacific Land Corporation has a 12-month low of $752.70 and a 12-month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.27 by ($0.03). The firm had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million. Texas Pacific Land had a return on equity of 40.04% and a net margin of 63.24%.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid 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 was Monday, June 2nd. Texas Pacific Land's payout ratio is 32.02%.

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.