HighTower Advisors LLC Purchases 462 Shares of Texas Pacific Land Corporation $TPL

Key Points

• HighTower Advisors LLC increased its stake in Texas Pacific Land Corporation by 1.6%, now owning over 30,200 shares valued at $40 million.
• The company reported quarterly earnings of $5.05 per share, falling short of analysts' expectations of $5.48, along with revenues of $187.54 million.
• Texas Pacific Land announced a quarterly dividend of $1.60, which will be distributed on September 16th, representing an annualized yield of 0.7%.

HighTower Advisors LLC raised its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,208 shares of the financial services provider's stock after acquiring an additional 462 shares during the period. HighTower Advisors LLC owned about 0.13% of Texas Pacific Land worth $40,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Texas Pacific Land by 241,048.0% during the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock worth $479,278,000 after acquiring an additional 361,572 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Texas Pacific Land by 4.9% during the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Texas Pacific Land by 943.6% in the 4th 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 buying an additional 109,455 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Texas Pacific Land in the 1st quarter valued at approximately $68,518,000. Finally, 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 valued at $248,584,000 after buying an additional 40,185 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

NYSE TPL traded down $3.9850 on Tuesday, hitting $888.0650. 19,563 shares of the stock were exchanged, compared to its average volume of 138,317. The company has a market capitalization of $20.42 billion, a PE ratio of 44.30 and a beta of 1.14. The business's fifty day moving average is $1,004.09 and its 200 day moving average is $1,199.50. Texas Pacific Land Corporation has a 52 week low of $766.51 and a 52 week high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released 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 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 Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis 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 presently 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 that occurred on Thursday, August 14th. The shares were acquired at an average cost of $915.00 per share, with a total value of $91,500.00. Following the acquisition, the director owned 393,400 shares of the company's stock, valued at $359,961,000. The trade was a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders purchased 250 shares of company stock worth $264,535. 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.