Ieq Capital LLC Boosts Holdings in Texas Pacific Land Corporation $TPL

Key Points

• Ieq Capital LLC significantly increased its holdings in Texas Pacific Land Corporation by 1,287.6%, owning 3,344 shares valued at approximately $4.43 million as of its latest SEC filing.
• The company reported earnings of $5.05 per share for the latest quarter, missing estimates, with a revenue of $187.54 million compared to analyst projections of $198 million.
• Texas Pacific Land recently declared a $1.60 quarterly dividend, representing a 0.7% dividend yield and a payout ratio of 31.90%.

Ieq Capital LLC raised its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 1,287.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,344 shares of the financial services provider's stock after buying an additional 3,103 shares during the period. Ieq Capital LLC's holdings in Texas Pacific Land were worth $4,431,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPL. Coldstream Capital Management Inc. lifted its position in Texas Pacific Land by 26.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 301 shares of the financial services provider's stock valued at $333,000 after buying an additional 63 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Texas Pacific Land during the fourth quarter valued at approximately $502,000. AXA S.A. lifted its position in Texas Pacific Land by 66.9% during the fourth quarter. AXA S.A. now owns 17,966 shares of the financial services provider's stock valued at $19,870,000 after buying an additional 7,202 shares in the last quarter. Aptus Capital Advisors LLC acquired a new position in Texas Pacific Land during the fourth quarter valued at approximately $953,000. Finally, BNP Paribas Financial Markets acquired a new position in Texas Pacific Land during the fourth quarter valued at approximately $37,624,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Eric L. Oliver acquired 100 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were bought at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the purchase, the director directly owned 393,600 shares of the company's stock, valued at approximately $346,867,872. This trade represents a 0.03% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 290 shares of company stock worth $278,442 in the last 90 days. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Price Performance

TPL stock traded up $16.64 during midday trading on Thursday, reaching $926.12. 90,337 shares of the company's stock traded hands, compared to its average volume of 139,756. The company has a market capitalization of $21.29 billion, a P/E ratio of 46.17 and a beta of 1.19. Texas Pacific Land Corporation has a fifty-two week low of $766.51 and a fifty-two week high of $1,769.14. The business has a 50-day moving average price of $960.43 and a two-hundred day moving average price of $1,161.73.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing analysts' consensus estimates of $5.48 by ($0.43). The business had revenue of $187.54 million for the quarter, compared to analyst estimates 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid 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 (DPR) is currently 31.90%.

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.