Texas Pacific Land Corporation $TPL Shares Sold by National Pension Service

Key Points

• The National Pension Service reduced its holdings in Texas Pacific Land Corporation (NYSE: TPL) by 7.4% in the first quarter, holding 32,293 shares now valued at approximately $42.79 million.
• Texas Pacific Land recently announced a quarterly dividend of $1.60 per share, representing an annualized dividend of $6.40 with a yield of 0.7%.
• The company's quarterly earnings report showed earnings per share of $5.05, missing analyst estimates of $5.48, with revenues of $187.54 million against expectations of $198 million.

National Pension Service decreased its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,293 shares of the financial services provider's stock after selling 2,597 shares during the period. National Pension Service owned 0.14% of Texas Pacific Land worth $42,788,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. LGT Group Foundation acquired a new position in shares of Texas Pacific Land in the 1st quarter valued at $235,000. Russell Investments Group Ltd. boosted its stake in Texas Pacific Land by 3.8% during the 1st quarter. Russell Investments Group Ltd. now owns 9,865 shares of the financial services provider's stock worth $13,071,000 after purchasing an additional 364 shares during the period. Resona Asset Management Co. Ltd. boosted its stake in Texas Pacific Land by 5.1% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 6,071 shares of the financial services provider's stock worth $8,027,000 after purchasing an additional 297 shares during the period. HighTower Advisors LLC boosted its stake in Texas Pacific Land by 1.6% during the 1st quarter. HighTower Advisors LLC now owns 30,208 shares of the financial services provider's stock worth $40,025,000 after purchasing an additional 462 shares during the period. Finally, Peak Financial Management Inc. acquired a new stake in Texas Pacific Land during the 1st quarter worth $235,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Activity at Texas Pacific Land

In other news, Director Eric L. Oliver bought 100 shares of Texas Pacific Land stock in a transaction dated Thursday, August 14th. The stock was bought at an average price of $915.00 per share, for a total transaction of $91,500.00. Following the purchase, the director owned 393,400 shares of the company's stock, valued at approximately $359,961,000. The trade was 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 240 shares of company stock valued at $250,715. 6.50% of the stock is currently owned by company insiders.

Texas Pacific Land Stock Down 0.7%

NYSE:TPL traded down $6.2150 during trading hours on Wednesday, reaching $895.9650. 46,243 shares of the company's stock were exchanged, compared to its average volume of 138,246. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of 44.81 and a beta of 1.14. The company has a 50-day moving average of $1,000.12 and a 200 day moving average of $1,197.42. 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 quarterly earnings results 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 business had revenue of $187.54 million for the quarter, compared to analyst estimates 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 Dividend Announcement

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