Jump Financial LLC Has $743,000 Stock Position in 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 increased its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 151.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

Other institutional investors have also modified their holdings of the company. Hemington Wealth Management lifted its holdings in shares of Texas Pacific Land by 66.7% during the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 8 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Texas Pacific Land by 110.0% during the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 11 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Texas Pacific Land during the 1st quarter valued at about $28,000. Allworth Financial LP lifted its holdings in shares of Texas Pacific Land by 42.1% during the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 8 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its holdings in shares of 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 purchasing an additional 19 shares in the last quarter. Institutional investors own 59.94% of the company's stock.

Insider Activity

In other Texas Pacific Land news, Director Eric L. Oliver acquired 100 shares of the stock in a transaction dated Thursday, August 21st. The shares were bought 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 directly owned 393,600 shares of the company's stock, valued at approximately $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 280 shares of company stock valued at $267,306 in the last 90 days. 6.50% of the stock is owned by company insiders.

Texas Pacific Land Stock Performance

Texas Pacific Land stock traded down $28.81 during midday trading on Friday, reaching $900.12. The stock had a trading volume of 22,458 shares, compared to its average volume of 137,407. Texas Pacific Land Corporation has a 1-year low of $766.51 and a 1-year high of $1,769.14. The firm's fifty day simple moving average is $960.43 and its 200-day simple moving average is $1,161.73. The stock has a market capitalization of $20.69 billion, a P/E ratio of 45.04 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 (EPS) 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 business had revenue of $187.54 million during the quarter, compared to analyst estimates of $198.00 million.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a $1.60 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. 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.