First Dallas Securities Inc. Has $33.28 Million Position in Texas Pacific Land Corporation $TPL

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. reduced its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,117 shares of the financial services provider's stock after selling 317 shares during the quarter. Texas Pacific Land comprises 13.9% of First Dallas Securities Inc.'s portfolio, making the stock its biggest 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 have also added to or reduced their stakes in the company. Hemington Wealth Management grew its position in Texas Pacific Land by 66.7% during the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock worth $26,000 after buying an additional 8 shares in the last quarter. Golden State Wealth Management LLC grew its position in Texas Pacific Land by 110.0% during the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock worth $28,000 after buying an additional 11 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in Texas Pacific Land during the first quarter worth about $28,000. Allworth Financial LP grew its position in Texas Pacific Land by 42.1% during the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock worth $36,000 after buying an additional 8 shares in the last quarter. Finally, GW&K Investment Management LLC grew its position in Texas Pacific Land by 237.5% during the first quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock worth $36,000 after buying an additional 19 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Trading Down 0.2%

TPL stock traded down $2.01 during trading on Friday, reaching $936.99. 108,943 shares of the stock were exchanged, compared to its average volume of 119,753. Texas Pacific Land Corporation has a twelve month low of $801.40 and a twelve month high of $1,769.14. The company has a market capitalization of $21.54 billion, a P/E ratio of 46.71 and a beta of 1.19. The stock has a 50 day simple moving average of $942.73 and a 200-day simple moving average of $1,141.85.

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

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $1.60 per share. The ex-dividend date of this dividend 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%.

Insiders Place Their Bets

In other Texas Pacific Land news, Director Eric L. Oliver purchased 100 shares of the business's stock in a transaction on Thursday, August 21st. The stock was purchased at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the purchase, the director directly owned 393,600 shares in the company, valued at approximately $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought 250 shares of company stock worth $233,885 over the last 90 days. 6.50% of the stock is owned by company insiders.

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.