Focus Partners Wealth Sells 1,545 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Focus Partners Wealth reduced its stake in Texas Pacific Land Corporation by 6.5%, selling 1,545 shares and holding 22,103 shares valued at approximately $29.29 million as of the latest reporting period.
• Vanguard Group Inc. increased its holdings in Texas Pacific Land by 4.9%, now owning over 2.46 million shares worth approximately $3.27 billion, highlighting strong institutional interest in the stock.
• Texas Pacific Land recently declared a quarterly dividend of $1.60 per share, representing an annualized yield of 0.7%, with a payout ratio of 31.90% as of the latest update.

Focus Partners Wealth decreased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,103 shares of the financial services provider's stock after selling 1,545 shares during the period. Focus Partners Wealth owned about 0.10% of Texas Pacific Land worth $29,287,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Texas Pacific Land by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider's stock valued at $3,267,588,000 after purchasing an additional 115,743 shares during the period. GAMMA Investing LLC lifted its position in shares of Texas Pacific Land by 241,048.0% during the first quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock valued at $479,278,000 after buying an additional 361,572 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Texas Pacific Land by 2.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 183,485 shares of the financial services provider's stock valued at $243,116,000 after acquiring an additional 3,850 shares during the last quarter. Schwartz Investment Counsel Inc. increased its stake in Texas Pacific Land by 0.4% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 150,823 shares of the financial services provider's stock valued at $199,839,000 after purchasing an additional 642 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of 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 worth $167,386,000 after acquiring an additional 2,623 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Eric L. Oliver bought 100 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were acquired at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the transaction, the director directly owned 393,600 shares in the company, valued at $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders bought 250 shares of company stock valued at $233,885. Corporate insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Performance

TPL stock opened at $940.54 on Friday. The firm has a market cap of $21.62 billion, a PE ratio of 46.89 and a beta of 1.19. Texas Pacific Land Corporation has a one year low of $789.17 and a one year high of $1,769.14. The firm's fifty day moving average is $945.51 and its 200 day moving average is $1,145.70.

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 for the quarter, missing analysts' consensus estimates 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 declared 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 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 is presently 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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