IFM Investors Pty Ltd Acquires 661 Shares of Texas Pacific Land Corporation $TPL

Key Points

• IFM Investors Pty Ltd has increased its stake in Texas Pacific Land Corporation (NYSE: TPL) by 19% during the 2nd quarter, holding shares valued at approximately $4.38 million.
• Institutional investors now own nearly 60% of Texas Pacific Land's stock, reflecting significant interest from hedge funds, with several making substantial position increases recently.
• The company recently declared a quarterly dividend of $1.60 per share, contributing to an annualized dividend of $6.40 with a yield of 0.7%.

IFM Investors Pty Ltd lifted its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 19.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,143 shares of the financial services provider's stock after acquiring an additional 661 shares during the period. IFM Investors Pty Ltd's holdings in Texas Pacific Land were worth $4,377,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Texas Pacific Land by 241,048.0% in the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock valued at $479,278,000 after acquiring an additional 361,572 shares in the last quarter. Vanguard Group Inc. lifted its position 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 during the last quarter. Nuveen LLC bought a new stake in shares of Texas Pacific Land in the first quarter valued at approximately $68,518,000. CW Advisors LLC bought a new position in Texas Pacific Land during the first quarter worth $31,919,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Texas Pacific Land by 23.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,999 shares of the financial services provider's stock valued at $120,573,000 after purchasing an additional 17,066 shares during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Up 0.6%

Texas Pacific Land stock traded up $5.12 on Monday, hitting $880.22. The company's stock had a trading volume of 153,431 shares, compared to its average volume of 134,272. The company has a fifty day moving average price of $926.46 and a 200-day moving average price of $1,121.06. The firm has a market cap of $20.24 billion, a P/E ratio of 43.88 and a beta of 1.19. Texas Pacific Land Corporation has a one year low of $845.56 and a one year high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 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 business had revenue of $187.54 million for the quarter, compared to analyst estimates of $198.00 million.

Texas Pacific Land Announces Dividend

The company 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 was Tuesday, September 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. Texas Pacific Land's dividend payout ratio (DPR) is currently 31.90%.

Insider Activity at Texas Pacific Land

In related news, Director Eric L. Oliver purchased 100 shares of Texas Pacific Land stock in a transaction on 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 completion of the acquisition, the director owned 393,600 shares of the company's stock, valued at $346,867,872. This trade represents a 0.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders bought 210 shares of company stock worth $190,205 over the last quarter. Company 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.