Korea Investment CORP Increases Position in Texas Pacific Land Corporation $TPL

Key Points

• Korea Investment CORP has increased its stake in Texas Pacific Land Corporation by 22.3% during the first quarter, now owning approximately 11,732 shares valued at $15.5 million.
• Texas Pacific Land recently reported earnings per share (EPS) of $5.05, falling short of analyst expectations of $5.48, and announced a quarterly dividend of $1.60 per share.
• The company has a market cap of $20.59 billion and its stock price peaked at $1,769.14 within the past year.

Korea Investment CORP increased its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 22.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,732 shares of the financial services provider's stock after acquiring an additional 2,140 shares during the quarter. Korea Investment CORP owned approximately 0.05% of Texas Pacific Land worth $15,545,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of TPL. Aptus Capital Advisors LLC increased its holdings in Texas Pacific Land by 4.2% during the 1st quarter. Aptus Capital Advisors LLC now owns 898 shares of the financial services provider's stock worth $1,190,000 after purchasing an additional 36 shares during the last quarter. Brooklyn Investment Group grew its position in shares of Texas Pacific Land by 3,246.7% during the first quarter. Brooklyn Investment Group now owns 502 shares of the financial services provider's stock worth $665,000 after buying an additional 487 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of Texas Pacific Land by 97.9% in the first quarter. Cresset Asset Management LLC now owns 3,070 shares of the financial services provider's stock worth $4,067,000 after buying an additional 1,519 shares during the last quarter. Ethic Inc. raised its holdings in Texas Pacific Land by 18.7% in the first quarter. Ethic Inc. now owns 3,408 shares of the financial services provider's stock valued at $4,610,000 after acquiring an additional 538 shares in the last quarter. Finally, Element Capital Management LLC bought a new position in Texas Pacific Land during the 1st quarter valued at $2,661,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $895.6940 on Thursday. The firm has a fifty day moving average of $996.01 and a two-hundred day moving average of $1,195.34. The firm has a market cap of $20.59 billion, a P/E ratio of 44.65 and a beta of 1.14. 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 issued its earnings results 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). The company had revenue of $187.54 million during the quarter, compared to analyst estimates of $198.00 million. Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Announces Dividend

The company 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. 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 currently 31.90%.

Insider Activity at Texas Pacific Land

In other news, Director Eric L. Oliver purchased 100 shares of the stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $915.00 per share, for a total transaction of $91,500.00. Following the acquisition, the director owned 393,400 shares of the company's stock, valued at $359,961,000. The trade was a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 240 shares of company stock valued at $250,715. 6.50% of the stock is currently owned by company insiders.

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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