Janney Montgomery Scott LLC Acquires 1,864 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Janney Montgomery Scott LLC increased its stake in Texas Pacific Land Corporation by 10.5%, adding 1,864 shares to reach a total of 19,543 shares valued at approximately $20.6 million.
• Texas Pacific Land recently reported earnings of $5.05 per share, missing analyst expectations, with a net margin of 62.16% and a revenue of $187.54 million.
• The company has announced a quarterly dividend of $1.60 per share, resulting in a yield of 0.7%, with a payout ratio of 31.90%.

Janney Montgomery Scott LLC raised its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 10.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,543 shares of the financial services provider's stock after acquiring an additional 1,864 shares during the quarter. Janney Montgomery Scott LLC owned about 0.09% of Texas Pacific Land worth $20,646,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Texas Pacific Land by 4.9% in 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 acquiring an additional 115,743 shares during the last quarter. Nuveen LLC purchased a new stake in Texas Pacific Land in the 1st quarter worth approximately $68,518,000. CW Advisors LLC purchased a new stake in shares of Texas Pacific Land during the 1st quarter valued at $31,919,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Texas Pacific Land by 23.1% during 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 buying an additional 17,066 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new position in Texas Pacific Land in the 1st quarter worth $16,297,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Buying and Selling at Texas Pacific Land

In other news, Director Eric L. Oliver purchased 100 shares of the company's 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 transaction, the director directly owned 393,600 shares in the company, valued at $346,867,872. This trade represents a 0.03% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.50% of the stock is currently owned by insiders.

Texas Pacific Land Stock Up 1.0%

Shares of Texas Pacific Land stock opened at $967.54 on Friday. The firm has a market cap of $22.23 billion, a PE ratio of 48.23 and a beta of 1.12. Texas Pacific Land Corporation has a 12-month low of $845.56 and a 12-month high of $1,769.14. The company's fifty day simple moving average is $921.67 and its two-hundred day simple moving average is $1,102.90.

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

Texas Pacific Land Announces Dividend

The firm also recently announced 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. This represents a $6.40 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, September 2nd. Texas Pacific Land's payout ratio is 31.90%.

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.

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