Dimensional Fund Advisors LP Raises Position in Texas Pacific Land Corporation $TPL

Key Points

• Dimensional Fund Advisors LP increased its stake in Texas Pacific Land Corporation by 2.1%, owning approximately 0.55% of the company, worth $167.4 million as of the latest SEC filing.
• A variety of institutional investors have also adjusted their positions in Texas Pacific Land, including NewEdge Advisors LLC, which raised its holdings by 58.6%, owning 525 shares valued at $580,000.
• Texas Pacific Land has announced a quarterly dividend of $1.60, with a yield of 0.7%, to be paid to stockholders on September 16th.

Dimensional Fund Advisors LP boosted its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,347 shares of the financial services provider's stock after purchasing an additional 2,623 shares during the quarter. Dimensional Fund Advisors LP owned about 0.55% of Texas Pacific Land worth $167,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Toronto Dominion Bank increased its position in shares of Texas Pacific Land by 173.6% in the fourth quarter. Toronto Dominion Bank now owns 6,364 shares of the financial services provider's stock valued at $7,038,000 after buying an additional 4,038 shares in the last quarter. Spring Capital Management LLC acquired a new position in shares of Texas Pacific Land in the first quarter worth $5,008,000. ProShare Advisors LLC increased its stake in shares of Texas Pacific Land by 347.0% during the fourth quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider's stock worth $4,059,000 after buying an additional 2,849 shares during the period. AustralianSuper Pty Ltd lifted its holdings in 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 buying an additional 391 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Texas Pacific Land by 110.0% in 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 in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Eric L. Oliver purchased 100 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were purchased at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the transaction, the director directly owned 393,600 shares of the company's stock, valued at approximately $346,867,872. The trade was a 0.03% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought a total of 330 shares of company stock worth $326,165 over the last 90 days. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Trading Up 3.3%

Shares of Texas Pacific Land stock traded up $28.9770 on Friday, hitting $909.2570. The stock had a trading volume of 104,210 shares, compared to its average volume of 147,961. The stock has a market cap of $20.90 billion, a price-to-earnings ratio of 45.33 and a beta of 1.14. Texas Pacific Land Corporation has a 52-week low of $766.51 and a 52-week high of $1,769.14. The company's 50 day moving average price is $987.42 and its 200 day moving average price is $1,189.10.

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 EPS for the quarter, missing the consensus estimate of $5.48 by ($0.43). The firm had revenue of $187.54 million for the quarter, compared to analyst estimates 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis 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 presently 31.90%.

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.