Northern Trust Corp Sells 10,203 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Northern Trust Corp has reduced its stake in Texas Pacific Land Corporation by 4.5%, selling 10,203 shares, resulting in ownership of 214,565 shares worth approximately $284 million.
• In the same quarter, several other investors, including Hemington Wealth Management and Golden State Wealth Management, significantly increased their holdings in Texas Pacific Land.
• Texas Pacific Land announced a quarterly dividend of $1.60 per share, with an annualized yield of 0.7%, to be paid on September 16th.

Northern Trust Corp reduced its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 214,565 shares of the financial services provider's stock after selling 10,203 shares during the period. Northern Trust Corp owned approximately 0.93% of Texas Pacific Land worth $284,296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Hemington Wealth Management raised its holdings in Texas Pacific Land by 66.7% in the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 8 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Texas Pacific Land by 110.0% in the first 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 acquired a new position in shares of Texas Pacific Land in the 1st quarter valued at approximately $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 worth $36,000 after acquiring 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 acquiring an additional 19 shares in the last quarter. Institutional investors and hedge funds 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 the stock in a transaction on Thursday, August 14th. The stock was purchased at an average price of $915.00 per share, with a total value of $91,500.00. Following the completion of the purchase, the director owned 393,400 shares in the company, valued at $359,961,000. The trade was a 0.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought a total of 240 shares of company stock valued at $250,715 in the last quarter. Insiders own 6.50% of the company's stock.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $895.6940 on Thursday. 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 capitalization of $20.59 billion, a price-to-earnings ratio of 44.65 and a beta of 1.14. The company's 50 day simple moving average is $996.01 and its 200 day simple moving average is $1,195.34.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing the consensus estimate of $5.48 by ($0.43). The business had revenue of $187.54 million for the quarter, compared to the consensus estimate 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 given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, September 2nd. Texas Pacific Land's payout ratio is currently 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.

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