Gulf International Bank UK Ltd Has $1.49 Million Stock Position in Texas Pacific Land Corporation $TPL

Key Points

• Gulf International Bank UK Ltd reduced its stake in Texas Pacific Land Corporation by 22.7%, now holding 1,123 shares worth approximately $1.49 million.
• Texas Pacific Land reported a quarterly earnings miss, with earnings per share of $5.05, below the expected $5.48 by $0.43.
• The company declared a quarterly dividend of $1.60 per share, translating to an annualized dividend of $6.40 and a 0.7% dividend yield.

Gulf International Bank UK Ltd reduced its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 22.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,123 shares of the financial services provider's stock after selling 330 shares during the quarter. Gulf International Bank UK Ltd's holdings in Texas Pacific Land were worth $1,487,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. LGT Group Foundation bought a new stake in shares of Texas Pacific Land during the 1st quarter worth $235,000. Russell Investments Group Ltd. boosted its stake in shares of Texas Pacific Land by 3.8% during the 1st quarter. Russell Investments Group Ltd. now owns 9,865 shares of the financial services provider's stock worth $13,071,000 after acquiring an additional 364 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its stake in shares of Texas Pacific Land by 5.1% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 6,071 shares of the financial services provider's stock worth $8,027,000 after acquiring an additional 297 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Texas Pacific Land by 1.6% during the 1st quarter. HighTower Advisors LLC now owns 30,208 shares of the financial services provider's stock worth $40,025,000 after acquiring an additional 462 shares in the last quarter. Finally, Peak Financial Management Inc. bought a new stake in shares of Texas Pacific Land during the 1st quarter worth $235,000. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Price Performance

Shares of TPL traded down $6.2150 during trading hours on Wednesday, hitting $895.9650. 46,243 shares of the company were exchanged, compared to its average volume of 138,246. The company has a market capitalization of $20.60 billion, a PE ratio of 44.81 and a beta of 1.14. The firm has a fifty day simple moving average of $1,000.12 and a 200-day simple moving average of $1,197.42. 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 issued its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 EPS for the quarter, missing the consensus estimate 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 31.90%.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was acquired at an average price of $915.00 per share, with a total value of $91,500.00. Following the completion of the transaction, the director directly owned 393,400 shares in the company, valued at approximately $359,961,000. This 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 hyperlink. Insiders acquired a total of 240 shares of company stock valued at $250,715 over the last ninety days. Company insiders own 6.50% of the company's stock.

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.