OMERS ADMINISTRATION Corp Sells 285 Shares of 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 lowered its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 17.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Texas Pacific Land by 4.9% in the first quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider's stock worth $3,267,588,000 after purchasing an additional 115,743 shares during the period. GAMMA Investing LLC raised its position in Texas Pacific Land by 241,048.0% in the first quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock worth $479,278,000 after acquiring an additional 361,572 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Texas Pacific Land by 2.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 183,485 shares of the financial services provider's stock worth $243,116,000 after acquiring an additional 3,850 shares in the last quarter. Schwartz Investment Counsel Inc. raised its position in Texas Pacific Land by 0.4% in the first quarter. Schwartz Investment Counsel Inc. now owns 150,823 shares of the financial services provider's stock worth $199,839,000 after acquiring an additional 642 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Texas Pacific Land by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 126,347 shares of the financial services provider's stock worth $167,386,000 after acquiring an additional 2,623 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were bought at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the acquisition, the director directly owned 393,600 shares of the company's stock, valued at approximately $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders bought 290 shares of company stock valued at $278,442. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Stock Up 1.0%

Texas Pacific Land stock traded up $9.25 during midday trading on Thursday, hitting $918.73. The company's stock had a trading volume of 47,079 shares, compared to its average volume of 137,860. The stock's 50-day moving average price is $963.35 and its 200-day moving average price is $1,164.81. 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 $21.12 billion, a PE ratio of 45.78 and a beta of 1.19.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.48 by ($0.43). The company 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 Announces Dividend

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

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.