Erste Asset Management GmbH Sells 360 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Erste Asset Management GmbH significantly reduced its stake in Texas Pacific Land Corporation by 63.2% in Q1, selling 360 shares and retaining 210 shares valued at $274,000.
• GAMMA Investing LLC made a notable increase in holdings by 241,048.0%, acquiring an additional 361,572 shares, bringing its total to 361,722 shares valued at approximately $479 million.
• Texas Pacific Land Corporation's quarterly dividend of $1.60 per share will be paid out on September 16th, 2023, with an annualized payout ratio of 31.90%.

Erste Asset Management GmbH trimmed its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 63.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 210 shares of the financial services provider's stock after selling 360 shares during the quarter. Erste Asset Management GmbH's holdings in Texas Pacific Land were worth $274,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TPL. GAMMA Investing LLC increased its holdings in Texas Pacific Land by 241,048.0% in the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock worth $479,278,000 after buying an additional 361,572 shares in the last quarter. Vanguard Group Inc. increased its holdings in Texas Pacific Land by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider's stock worth $3,267,588,000 after buying an additional 115,743 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Texas Pacific Land by 943.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock worth $133,883,000 after buying an additional 109,455 shares in the last quarter. Nuveen LLC bought a new stake in Texas Pacific Land in the 1st quarter worth about $68,518,000. Finally, Northern Trust Corp increased its holdings in Texas Pacific Land by 21.8% in the 4th 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 in the last quarter. 59.94% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Eric L. Oliver purchased 100 shares of the business's stock in a transaction on Thursday, August 21st. The stock was acquired at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the purchase, the director directly owned 393,600 shares in the company, valued at $346,867,872. This trade represents a 0.03% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders bought 330 shares of company stock worth $326,165. Insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Performance

NYSE TPL opened at $909.2570 on Friday. Texas Pacific Land Corporation has a one year low of $766.51 and a one year high of $1,769.14. The stock has a 50-day moving average of $987.42 and a 200 day moving average of $1,189.10. The company has a market capitalization of $20.90 billion, a price-to-earnings ratio of 45.33 and a beta of 1.14.

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 (EPS) for the quarter, missing analysts' consensus estimates of $5.48 by ($0.43). The firm had revenue of $187.54 million for the quarter, compared to the consensus estimate of $198.00 million. Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid 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 is Tuesday, September 2nd. Texas Pacific Land's payout ratio is currently 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.

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