Texas Pacific Land Corporation $TPL is First Dallas Securities Inc.'s Largest Position

Key Points

• First Dallas Securities Inc. reduced its stake in Texas Pacific Land Corporation by 1.2% during the 1st quarter, now holding 25,117 shares worth approximately $33.28 million.
• Goldman Sachs Group Inc. increased its investment in Texas Pacific Land by 10.6% in the same quarter, owning 82,242 shares valued at $108.97 million.
• Texas Pacific Land announced a quarterly dividend of $1.60 per share, with a yield of 0.7%, to be paid on September 16th.

First Dallas Securities Inc. lessened its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,117 shares of the financial services provider's stock after selling 317 shares during the quarter. Texas Pacific Land makes up 13.9% of First Dallas Securities Inc.'s investment portfolio, making the stock its largest holding. First Dallas Securities Inc. owned approximately 0.11% of Texas Pacific Land worth $33,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hemington Wealth Management raised its holdings in shares of Texas Pacific Land by 66.7% in the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after buying an additional 8 shares during the period. Golden State Wealth Management LLC raised 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 during the period. Zions Bancorporation National Association UT purchased a new stake in shares of Texas Pacific Land in the 1st quarter valued at $28,000. Allworth Financial LP raised its holdings in shares of Texas Pacific Land by 42.1% in the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after buying an additional 8 shares during the period. Finally, GW&K Investment Management LLC raised its holdings in shares of Texas Pacific Land by 237.5% in the 1st quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock valued at $36,000 after buying an additional 19 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Transactions at Texas Pacific Land

In related news, Director Eric L. Oliver bought 100 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was purchased at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the acquisition, the director owned 393,600 shares in the company, valued at approximately $346,867,872. This trade represents a 0.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 260 shares of company stock valued at $245,052 in the last ninety days. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Trading Up 0.3%

NYSE:TPL traded up $2.91 during midday trading on Thursday, reaching $940.54. The company had a trading volume of 95,693 shares, compared to its average volume of 137,472. The firm has a market capitalization of $21.62 billion, a price-to-earnings ratio of 46.89 and a beta of 1.19. The stock's fifty day simple moving average is $948.22 and its 200-day simple moving average is $1,148.14. Texas Pacific Land Corporation has a 12-month low of $789.17 and a 12-month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its 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 company had revenue of $187.54 million during the quarter, compared to analysts' expectations 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 Announces Dividend

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