Focus Partners Wealth Cuts Position in 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 trimmed its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TPL. Toronto Dominion Bank raised its stake in Texas Pacific Land by 173.6% in the fourth quarter. Toronto Dominion Bank now owns 6,364 shares of the financial services provider's stock worth $7,038,000 after buying an additional 4,038 shares in the last quarter. Spring Capital Management LLC bought a new position in Texas Pacific Land in the first quarter worth about $5,008,000. ProShare Advisors LLC raised its stake in Texas Pacific Land by 347.0% in the fourth quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider's stock worth $4,059,000 after buying an additional 2,849 shares in the last quarter. AustralianSuper Pty Ltd raised its stake in Texas Pacific Land by 4.8% in the first quarter. AustralianSuper Pty Ltd now owns 8,591 shares of the financial services provider's stock worth $11,383,000 after buying an additional 391 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in 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 worth $28,000 after buying an additional 11 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Price Performance

TPL stock traded down $6.64 during trading on Wednesday, reaching $929.04. The company had a trading volume of 21,892 shares, compared to its average volume of 136,353. Texas Pacific Land Corporation has a 52 week low of $845.56 and a 52 week high of $1,769.14. The company has a market cap of $21.36 billion, a P/E ratio of 46.43 and a beta of 1.19. The business has a 50 day moving average of $938.35 and a 200 day moving average of $1,135.40.

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 (EPS) 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 company had revenue of $187.54 million during the quarter, compared to the consensus estimate of $198.00 million.

Texas Pacific Land Dividend Announcement

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

Insiders Place Their Bets

In other Texas Pacific Land news, Director Eric L. Oliver acquired 100 shares of the business's stock in a transaction on 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 acquisition, the director 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 230 shares of company stock valued at $212,000 in the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

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.