OMERS ADMINISTRATION Corp Trims Stock Holdings in Texas Pacific Land Corporation $TPL

Key Points

• OMERS ADMINISTRATION Corp has reduced its stake in Texas Pacific Land Corporation by 17.0%, owning 1,388 shares worth approximately $1.839 million as of the most recent quarter.
• Vanguard Group and GAMMA Investing LLC have increased their positions in Texas Pacific Land, with Vanguard now owning over $3.26 billion in shares, while GAMMA has acquired a staggering 241,048% increase in its holdings.
• The company recently announced a quarterly dividend of $1.60 per share, reflecting an annualized yield of 0.7% with a payout ratio of 31.90%.

OMERS ADMINISTRATION Corp cut its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 17.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,388 shares of the financial services provider's stock after selling 285 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Texas Pacific Land were worth $1,839,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hemington Wealth Management boosted its position in shares of Texas Pacific Land by 66.7% during the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 8 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Texas Pacific Land by 110.0% during the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 11 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Texas Pacific Land during the first quarter valued at approximately $28,000. Allworth Financial LP boosted its position in shares of Texas Pacific Land by 42.1% during the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 8 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its holdings in Texas Pacific Land by 237.5% in the first 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. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Trading Down 3.4%

Texas Pacific Land stock traded down $31.89 during mid-day trading on Friday, hitting $897.04. The company had a trading volume of 29,865 shares, compared to its average volume of 137,473. The stock's 50 day moving average price is $960.43 and its two-hundred day moving average price is $1,161.73. Texas Pacific Land Corporation has a 12 month low of $766.51 and a 12 month high of $1,769.14. The company has a market capitalization of $20.62 billion, a PE ratio of 44.64 and a beta of 1.19.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its 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 return on equity of 39.47% and a net margin of 62.16%.The company had revenue of $187.54 million during the quarter, compared to the consensus estimate of $198.00 million.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given 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 is Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio is 31.90%.

Insider Buying and Selling

In other news, Director Eric L. Oliver acquired 100 shares of Texas Pacific Land stock in a transaction that occurred on Thursday, August 21st. The stock was bought at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the transaction, the director owned 393,600 shares in the company, valued at $346,867,872. The trade was a 0.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired a total of 280 shares of company stock worth $267,306 in the last three months. 6.50% of the stock is currently owned by corporate insiders.

About Texas Pacific Land

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.