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 grew its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,205 shares of the financial services provider's stock after buying 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.

Several other large investors have also modified their holdings of the stock. Sprott Inc. boosted its holdings in shares of Texas Pacific Land by 2.2% in the 1st quarter. Sprott Inc. now owns 8,261 shares of the financial services provider's stock valued at $10,946,000 after buying an additional 181 shares in the last quarter. 1832 Asset Management L.P. raised its position in Texas Pacific Land by 17.7% in the 1st quarter. 1832 Asset Management L.P. now owns 2,121 shares of the financial services provider's stock valued at $2,810,000 after purchasing an additional 319 shares during the last quarter. Compound Planning Inc. raised its position in Texas Pacific Land by 19.8% in the 1st quarter. Compound Planning Inc. now owns 369 shares of the financial services provider's stock valued at $489,000 after purchasing an additional 61 shares during the last quarter. Norinchukin Bank The raised its position in Texas Pacific Land by 9.7% in the 1st quarter. Norinchukin Bank The now owns 724 shares of the financial services provider's stock valued at $959,000 after purchasing an additional 64 shares during the last quarter. Finally, CW Advisors LLC purchased a new stake in Texas Pacific Land in the 1st quarter valued at $31,919,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Trading Up 1.4%

TPL stock traded up $13.32 on Friday, hitting $935.21. The company's stock had a trading volume of 106,692 shares, compared to its average volume of 145,369. The firm has a 50 day moving average of $970.55 and a two-hundred day moving average of $1,171.20. Texas Pacific Land Corporation has a 1 year low of $766.51 and a 1 year high of $1,769.14. The stock has a market cap of $21.50 billion, a price-to-earnings ratio of 46.62 and a beta of 1.19.

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

Texas Pacific Land Announces Dividend

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

Insider Buying and Selling

In other Texas Pacific Land news, Director Eric L. Oliver purchased 100 shares of Texas Pacific Land stock in a transaction that occurred on Thursday, August 21st. The stock was purchased at an average price of $881.27 per share, for a total transaction of $88,127.00. Following 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have acquired 310 shares of company stock valued at $301,078. 6.50% of the stock is owned by corporate insiders.

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.