Jump Financial LLC Acquires 338 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Jump Financial LLC increased its stake in Texas Pacific Land Corporation by 151.6% in the first quarter, now holding 561 shares valued at $743,000.
• Other investors, such as Hemington Wealth Management and GW&K Investment Management, also significantly increased their holdings in Texas Pacific Land during the same period.
• Texas Pacific Land announced a quarterly dividend of $1.60, with an annualized payout of $6.40 and a yield of 0.7%.

Jump Financial LLC grew its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 151.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 561 shares of the financial services provider's stock after purchasing an additional 338 shares during the period. Jump Financial LLC's holdings in Texas Pacific Land were worth $743,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of TPL. Hemington Wealth Management boosted its stake in Texas Pacific Land by 66.7% in the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock worth $26,000 after buying an additional 8 shares in the last quarter. Golden State Wealth Management LLC grew its stake in shares of Texas Pacific Land by 110.0% during the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after buying an additional 11 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Texas Pacific Land in the first quarter worth about $28,000. Allworth Financial LP lifted its stake in shares of Texas Pacific Land by 42.1% in the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 8 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its holdings in Texas Pacific Land by 237.5% during the 1st quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 19 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Eric L. Oliver acquired 100 shares of the stock in a transaction dated Thursday, August 21st. The stock was purchased at an average cost of $881.27 per share, with a total value of $88,127.00. Following the completion of the purchase, the director owned 393,600 shares in the company, valued at approximately $346,867,872. The trade was a 0.03% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought a total of 290 shares of company stock valued at $278,442 in the last 90 days. 6.50% of the stock is currently owned by insiders.

Texas Pacific Land Stock Performance

TPL traded up $7.86 on Thursday, hitting $917.34. 44,402 shares of the company were exchanged, compared to its average volume of 137,843. The firm has a fifty day simple moving average of $963.35 and a two-hundred day simple moving average of $1,164.81. The stock has a market capitalization of $21.09 billion, a PE ratio of 45.72 and a beta of 1.19. Texas Pacific Land Corporation has a 12 month low of $766.51 and a 12 month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released 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 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 analysts' expectations of $198.00 million.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio (DPR) 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.