Czech National Bank Acquires 280 Shares of Texas Pacific Land Corporation $TPL

Key Points

• The Czech National Bank increased its stake in Texas Pacific Land Corporation by 6.5%, reaching a total of 4,607 shares valued at approximately $4,867,000.
• Texas Pacific Land reported a missed EPS forecast for the last quarter, with earnings of $5.05, below the consensus estimate of $5.48.
• The company recently declared a $1.60 quarterly dividend, translating to an annual yield of 0.7%, with a payout ratio of 31.90%.

Czech National Bank lifted its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 6.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,607 shares of the financial services provider's stock after acquiring an additional 280 shares during the period. Czech National Bank's holdings in Texas Pacific Land were worth $4,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Toronto Dominion Bank raised its position in shares of Texas Pacific Land by 173.6% in the 4th quarter. Toronto Dominion Bank now owns 6,364 shares of the financial services provider's stock worth $7,038,000 after acquiring an additional 4,038 shares in the last quarter. Spring Capital Management LLC bought a new position in shares of Texas Pacific Land during the 1st quarter worth about $5,008,000. AustralianSuper Pty Ltd boosted its position in shares of Texas Pacific Land by 4.8% during the 1st quarter. AustralianSuper Pty Ltd now owns 8,591 shares of the financial services provider's stock worth $11,383,000 after purchasing an additional 391 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of 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. Finally, Bessemer Group Inc. boosted its position in shares of Texas Pacific Land by 320.0% during the 1st quarter. Bessemer Group Inc. now owns 105 shares of the financial services provider's stock worth $139,000 after purchasing an additional 80 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Eric L. Oliver acquired 100 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were bought 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 of the company's stock, valued at $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have bought 210 shares of company stock worth $190,205. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Price Performance

Shares of TPL stock traded down $7.60 on Monday, reaching $867.50. 25,552 shares of the company were exchanged, compared to its average volume of 138,007. The company has a market cap of $19.94 billion, a price-to-earnings ratio of 43.25 and a beta of 1.19. The company has a 50-day moving average of $929.60 and a 200-day moving average of $1,124.53. Texas Pacific Land Corporation has a one year low of $845.56 and a one year high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.48 by ($0.43). The company had revenue of $187.54 million for the quarter, compared to the consensus estimate 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. 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.