FORA Capital LLC Decreases Stock Position in Texas Pacific Land Corporation $TPL

Key Points

• FORA Capital LLC reduced its holdings in Texas Pacific Land Corporation by 60.9% in Q1, now owning 1,683 shares valued at $2.23 million.
• Texas Pacific Land reported $5.05 EPS for the most recent quarter, falling short of analyst estimates of $5.48 and generating revenue of $187.54 million.
• The company declared a quarterly dividend of $1.60 per share, resulting in an annualized yield of 0.7% with a current payout ratio of 31.90%.

FORA Capital LLC cut its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 60.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,683 shares of the financial services provider's stock after selling 2,616 shares during the quarter. FORA Capital LLC's holdings in Texas Pacific Land were worth $2,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of TPL. GAMMA Investing LLC grew its stake in shares of Texas Pacific Land by 241,048.0% in the first 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. Vanguard Group Inc. grew its stake in shares of Texas Pacific Land by 4.9% in 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 purchasing an additional 115,743 shares during the last quarter. Nuveen LLC bought a new stake in shares of Texas Pacific Land in the first quarter worth about $68,518,000. Northern Trust Corp grew its stake in shares of Texas Pacific Land by 21.8% in the fourth quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock worth $248,584,000 after purchasing an additional 40,185 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of Texas Pacific Land in the fourth quarter worth about $37,624,000. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Trading Up 1.4%

Texas Pacific Land stock traded up $13.32 during trading hours on Monday, hitting $935.21. 106,692 shares of the stock traded hands, compared to its average volume of 145,369. The firm's 50-day moving average price is $968.27 and its two-hundred day moving average price is $1,168.14. The company has a market cap of $21.50 billion, a PE ratio of 46.62 and a beta of 1.19. Texas Pacific Land Corporation has a one year low of $766.51 and a one year high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing the consensus estimate of $5.48 by ($0.43). The firm had revenue of $187.54 million for the quarter, compared to the consensus estimate 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Pacific Land's payout ratio is presently 31.90%.

Insider Activity at Texas Pacific Land

In related news, Director Eric L. Oliver purchased 100 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were purchased at an average cost of $881.27 per share, with a total value of $88,127.00. Following 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders purchased 300 shares of company stock valued at $289,648. Insiders own 6.50% of the company's stock.

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.