Texas Pacific Land Corporation $TPL Shares Bought by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC increased its stake in Texas Pacific Land Corporation by 8.0%, owning 4,205 shares valued at $5.57 million as of the latest SEC filing.
• Texas Pacific Land's quarterly earnings showed an EPS of $5.05, which was below analysts' expectations, and the company reported revenue of $187.54 million, missing estimates as well.
• The firm declared a quarterly dividend of $1.60 per share, representing an annualized dividend of $6.40, with a payout ratio of 31.90% and a dividend yield of 0.7%.

Kestra Advisory Services LLC increased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 8.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,205 shares of the financial services provider's stock after purchasing an additional 313 shares during the period. Kestra Advisory Services LLC's holdings in Texas Pacific Land were worth $5,572,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TPL. Hemington Wealth Management boosted its position 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 worth $26,000 after purchasing an additional 8 shares during the period. Golden State Wealth Management LLC boosted its position 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 worth $28,000 after purchasing an additional 11 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Texas Pacific Land during the 1st quarter worth approximately $28,000. Allworth Financial LP boosted its position 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 worth $36,000 after purchasing an additional 8 shares during the period. Finally, GW&K Investment Management LLC boosted its position 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 worth $36,000 after purchasing an additional 19 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of Texas Pacific Land stock in a transaction on 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 acquisition, the director directly owned 393,600 shares in the company, valued at $346,867,872. This represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have purchased 310 shares of company stock worth $301,078. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Price Performance

Shares of NYSE:TPL traded up $14.40 during mid-day trading on Thursday, reaching $923.10. 143,242 shares of the company were exchanged, compared to its average volume of 145,636. The firm has a market cap of $21.22 billion, a price-to-earnings ratio of 46.02 and a beta of 1.14. The firm's 50-day simple moving average is $973.49 and its 200 day simple moving average is $1,176.61. Texas Pacific Land Corporation has a 1 year low of $766.51 and a 1 year high of $1,769.14.

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). The company had revenue of $187.54 million for the quarter, compared to analysts' expectations of $198.00 million. Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.

Texas Pacific Land Announces Dividend

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

Texas Pacific Land Company 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.