Resona Asset Management Co. Ltd. Has $8.03 Million Holdings in Texas Pacific Land Corporation $TPL

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Texas Pacific Land Corporation by 5.1%, holding 6,071 shares valued at approximately $8 million as of its latest SEC filing.
• Texas Pacific Land's stock traded down to $882.53, with a 50-day moving average of $1,008.33 and a market capitalization of $20.29 billion.
• The company announced a quarterly dividend of $1.60 per share, with an annualized dividend yield of 0.7%, slated for payment to stockholders on September 16th.

Resona Asset Management Co. Ltd. lifted its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 5.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,071 shares of the financial services provider's stock after acquiring an additional 297 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Texas Pacific Land were worth $8,027,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TPL. Hemington Wealth Management lifted its position in Texas Pacific Land by 66.7% during the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock worth $26,000 after buying an additional 8 shares in the last quarter. Golden State Wealth Management LLC lifted its position in Texas Pacific Land by 110.0% during the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock worth $28,000 after buying an additional 11 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Texas Pacific Land during the 1st quarter worth about $28,000. Bessemer Group Inc. lifted its position in Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after buying an additional 13 shares in the last quarter. Finally, Allworth Financial LP lifted its position in 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 buying an additional 8 shares in the last quarter. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Trading Up 1.3%

NYSE TPL traded up $11.24 on Monday, hitting $893.39. 73,685 shares of the company were exchanged, compared to its average volume of 138,733. The firm has a 50 day moving average of $1,008.33 and a two-hundred day moving average of $1,202.32. The company has a market cap of $20.54 billion, a P/E ratio of 44.64 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 quarterly earnings results 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 Dividend Announcement

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 dividend of $1.60 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. Texas Pacific Land's dividend payout ratio is presently 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.