Ethic Inc. Boosts Holdings in Texas Pacific Land Corporation $TPL

Key Points

• Ethic Inc. increased its holdings in Texas Pacific Land Corporation (NYSE: TPL) by 18.7%, owning a total of 3,408 shares valued at approximately $4.61 million as of the end of Q1.
• Texas Pacific reported a missed EPS of $5.05 in its latest earnings report, falling short of the estimated $5.48, and recorded a net margin of 62.16%.
• The company announced a quarterly dividend of $1.60 per share, representing a dividend yield of 0.7% and a payout ratio of 31.90%.

Ethic Inc. lifted its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 18.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,408 shares of the financial services provider's stock after purchasing an additional 538 shares during the period. Ethic Inc.'s holdings in Texas Pacific Land were worth $4,610,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TPL. Hemington Wealth Management lifted its stake in shares of Texas Pacific Land by 66.7% in the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 8 shares during the period. Bessemer Group Inc. lifted its stake in shares of Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 13 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Texas Pacific Land by 110.0% in the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 11 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Texas Pacific Land in the first quarter valued at about $28,000. Finally, Allworth Financial LP lifted its stake in shares of Texas Pacific Land by 42.1% in the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 8 shares during the period. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Down 2.0%

Shares of NYSE TPL traded down $18.0170 during midday trading on Thursday, hitting $876.7530. The company had a trading volume of 130,812 shares, compared to its average volume of 138,255. Texas Pacific Land Corporation has a twelve month low of $766.51 and a twelve month high of $1,769.14. The business has a 50-day simple moving average of $996.01 and a two-hundred day simple moving average of $1,195.34. The firm has a market capitalization of $20.15 billion, a price-to-earnings ratio of 43.71 and a beta of 1.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing the consensus estimate of $5.48 by ($0.43). Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%. The business had revenue of $187.54 million for the quarter, compared to analysts' expectations of $198.00 million.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 31.90%.

Insiders Place Their Bets

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of the company's stock in a transaction on Thursday, August 14th. The stock was purchased at an average cost of $915.00 per share, for a total transaction of $91,500.00. Following the acquisition, the director owned 393,400 shares of the company's stock, valued at $359,961,000. The trade was a 0.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders have bought 240 shares of company stock worth $250,715. Company insiders own 6.50% of the company's stock.

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.