Farther Finance Advisors LLC Has $726,000 Stock Position in Texas Pacific Land Corporation $TPL

Key Points

• Farther Finance Advisors LLC increased its stake in Texas Pacific Land Corporation by 99.7%, holding shares worth $726,000 at the end of the latest reporting period.
• Director Eric L. Oliver bought 100 shares of Texas Pacific Land at an average cost of $881.27 per share, increasing his total holdings to 393,600 shares.
• Texas Pacific Land announced a quarterly dividend of $1.60 per share, which translates to an annualized yield of 0.7% based on a payout ratio of 31.90%.

Farther Finance Advisors LLC lifted its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 99.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 687 shares of the financial services provider's stock after buying an additional 343 shares during the period. Farther Finance Advisors LLC's holdings in Texas Pacific Land were worth $726,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Texas Pacific Land by 4.9% during the first quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider's stock worth $3,267,588,000 after acquiring an additional 115,743 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 361,572 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Texas Pacific Land by 2.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 183,485 shares of the financial services provider's stock valued at $243,116,000 after purchasing an additional 3,850 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its position 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, Dimensional Fund Advisors LP boosted its position in Texas Pacific Land by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 126,347 shares of the financial services provider's stock valued at $167,386,000 after buying an additional 2,623 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of the stock in a transaction dated Thursday, August 21st. The stock was bought at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the purchase, the director owned 393,600 shares in the company, valued at $346,867,872. This represents a 0.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.50% of the company's stock.

Texas Pacific Land Trading Down 0.9%

NYSE TPL opened at $927.04 on Friday. The firm has a market cap of $21.31 billion, a price-to-earnings ratio of 46.21 and a beta of 1.19. The company has a 50 day moving average of $923.10 and a 200-day moving average of $1,115.67. Texas Pacific Land Corporation has a 1-year low of $845.56 and a 1-year high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its 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 business had revenue of $187.54 million during 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $1.60 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. Texas Pacific Land's payout ratio is currently 31.90%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.