Texas Pacific Land Corporation (NYSE:TPL) Stock Holdings Increased by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management Co. Ltd has significantly increased its stake in Texas Pacific Land Corporation by 338.3%, now holding 526 shares valued at $696,000.
• Texas Pacific Land's recent earnings report showed EPS of $5.24, missing estimates, with revenue reported at $195.98 million against a forecast of $211 million.
• The company announced a quarterly dividend of $1.60 per share, translating to an annualized yield of 0.65% with a dividend payout ratio of 32.02%.

Harvest Fund Management Co. Ltd increased its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 338.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 526 shares of the financial services provider's stock after buying an additional 406 shares during the period. Harvest Fund Management Co. Ltd's holdings in Texas Pacific Land were worth $696,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in 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 valued at $479,278,000 after purchasing an additional 361,572 shares during the period. Invesco Ltd. grew its holdings in Texas Pacific Land by 203.4% in the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock valued at $331,321,000 after purchasing an additional 200,841 shares during the period. Geode Capital Management LLC grew its holdings in Texas Pacific Land by 34.5% in the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock valued at $693,023,000 after purchasing an additional 159,597 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Texas Pacific Land by 943.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock valued at $133,883,000 after purchasing an additional 109,455 shares during the period. Finally, Northern Trust Corp grew its holdings in 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 valued at $248,584,000 after purchasing an additional 40,185 shares during the period. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Trading Down 3.2%

TPL traded down $31.14 during trading on Friday, hitting $936.99. 95,310 shares of the company's stock were exchanged, compared to its average volume of 152,785. Texas Pacific Land Corporation has a 1 year low of $736.75 and a 1 year high of $1,769.14. The stock has a 50 day moving average price of $1,060.76 and a 200 day moving average price of $1,235.99. The firm has a market cap of $21.54 billion, a P/E ratio of 46.87 and a beta of 1.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.27 by ($0.03). The company had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million. Texas Pacific Land had a net margin of 63.24% and a return on equity of 40.04%.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 32.02%.

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.