IFM Investors Pty Ltd Cuts Position 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 decreased its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 24.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,482 shares of the financial services provider's stock after selling 1,133 shares during the quarter. IFM Investors Pty Ltd's holdings in Texas Pacific Land were worth $4,614,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Texas Pacific Land by 4.9% during the first quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider's stock worth $3,267,588,000 after acquiring an additional 115,743 shares during the period. GAMMA Investing LLC increased its position in shares of Texas Pacific Land by 241,048.0% during the first 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 during the period. Charles Schwab Investment Management Inc. increased its position in shares of Texas Pacific Land by 2.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 183,485 shares of the financial services provider's stock worth $243,116,000 after acquiring an additional 3,850 shares during the period. Schwartz Investment Counsel Inc. increased its position in shares of Texas Pacific Land by 0.4% during the first quarter. Schwartz Investment Counsel Inc. now owns 150,823 shares of the financial services provider's stock worth $199,839,000 after acquiring an additional 642 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Texas Pacific Land by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 126,347 shares of the financial services provider's stock worth $167,386,000 after acquiring an additional 2,623 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Trading Up 0.3%

Texas Pacific Land stock opened at $940.54 on Friday. Texas Pacific Land Corporation has a twelve month low of $789.17 and a twelve month high of $1,769.14. The stock's fifty day simple moving average is $945.51 and its 200-day simple moving average is $1,145.70. The firm has a market capitalization of $21.62 billion, a P/E ratio of 46.89 and a beta of 1.19.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data 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). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.The company had revenue of $187.54 million for the quarter, compared to analysts' expectations of $198.00 million.

Texas Pacific Land Dividend Announcement

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

Insider Buying and Selling

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were purchased at an average price of $881.27 per share, with a total value of $88,127.00. Following the completion of the acquisition, the director directly owned 393,600 shares of the company's stock, valued at $346,867,872. This represents a 0.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired a total of 250 shares of company stock valued at $233,885 over the last 90 days. Corporate insiders own 6.50% of the company's stock.

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.

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