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FORA Capital LLC Trims Holdings in Texas Pacific Land Corporation $TPL

Texas Pacific Land logo with Energy background

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%.
  • Looking to export and analyze Texas Pacific Land data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

FORA Capital LLC lessened its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 60.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Texas Pacific Land by 241,048.0% in the 1st 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 period. Vanguard Group Inc. lifted its holdings in 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 buying an additional 115,743 shares during the period. Nuveen LLC bought a new stake in Texas Pacific Land during the 1st quarter valued at approximately $68,518,000. Northern Trust Corp grew its holdings in shares of Texas Pacific Land by 21.8% during the 4th quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock worth $248,584,000 after acquiring an additional 40,185 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in shares of Texas Pacific Land in the 4th quarter worth approximately $37,624,000. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Up 0.8%

TPL opened at $908.07 on Wednesday. Texas Pacific Land Corporation has a 52 week low of $766.51 and a 52 week high of $1,769.14. The stock has a market cap of $20.87 billion, a PE ratio of 45.27 and a beta of 1.14. The business has a 50 day moving average of $980.06 and a 200-day moving average of $1,181.64.

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

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $1.60 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. Texas Pacific Land's dividend payout ratio is presently 31.90%.

Insider Activity at Texas Pacific Land

In other news, Director Eric L. Oliver acquired 100 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was bought at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the acquisition, the director directly owned 393,600 shares in the company, valued at approximately $346,867,872. The trade was a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 320 shares of company stock worth $313,259 in the last 90 days. Corporate insiders own 6.50% of the company's stock.

Texas Pacific Land Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Texas Pacific Land (NYSE:TPL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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