IFM Investors Pty Ltd Reduces Holdings in Texas Pacific Land Corporation $TPL

Key Points

• IFM Investors Pty Ltd has reduced its stake in Texas Pacific Land Corporation by 24.6%, now owning 3,482 shares valued at approximately $4.61 million.
• Conversely, Vanguard Group Inc. increased its holdings by 4.9%, now controlling over $3.26 billion in shares of Texas Pacific Land.
• The company recently reported quarterly earnings of $5.05 per share, which fell short of analysts' expectations, alongside a quarterly dividend of $1.60 announced to be paid on September 16th.

IFM Investors Pty Ltd reduced its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 24.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,482 shares of the financial services provider's stock after selling 1,133 shares during the period. IFM Investors Pty Ltd's holdings in Texas Pacific Land were worth $4,614,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Cetera Investment Advisers boosted its stake in shares of Texas Pacific Land by 3.2% in the fourth quarter. Cetera Investment Advisers now owns 1,758 shares of the financial services provider's stock valued at $1,945,000 after purchasing an additional 54 shares during the period. Jefferies Financial Group Inc. boosted its stake in Texas Pacific Land by 55.6% in the fourth quarter. Jefferies Financial Group Inc. now owns 526 shares of the financial services provider's stock valued at $582,000 after acquiring an additional 188 shares in the last quarter. Janus Henderson Group PLC grew its stake in Texas Pacific Land by 21.3% during the 4th quarter. Janus Henderson Group PLC now owns 1,815 shares of the financial services provider's stock worth $2,010,000 after buying an additional 319 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Texas Pacific Land by 60.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,395 shares of the financial services provider's stock valued at $1,543,000 after buying an additional 527 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its position in Texas Pacific Land by 164.3% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 1,673 shares of the financial services provider's stock worth $1,850,000 after acquiring an additional 1,040 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Texas Pacific Land stock traded down $11.51 during midday trading on Wednesday, reaching $924.17. The company's stock had a trading volume of 26,719 shares, compared to its average volume of 136,376. Texas Pacific Land Corporation has a fifty-two week low of $845.56 and a fifty-two week high of $1,769.14. The firm has a market capitalization of $21.25 billion, a PE ratio of 46.04 and a beta of 1.19. The stock's 50 day simple moving average is $938.35 and its 200 day simple moving average is $1,135.40.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $198.00 million.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $6.40 annualized dividend and a yield of 0.7%. Texas Pacific Land's dividend payout ratio is 31.90%.

Insider Buying and Selling at Texas Pacific Land

In other news, Director Eric L. Oliver acquired 100 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was acquired 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. This represents a 0.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have acquired 230 shares of company stock valued at $212,000. 6.50% of the stock is owned by company insiders.

About Texas Pacific Land

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.