Strategy Asset Managers LLC Buys Shares of 435 Texas Pacific Land Corporation (NYSE:TPL)

Key Points

• Strategy Asset Managers LLC has made a new investment of approximately $576,000 in Texas Pacific Land Corporation, acquiring 435 shares as reported in their SEC filing.
• Significant increases in holdings were seen from other major investors, including Vanguard Group and GAMMA Investing LLC, indicating strong institutional interest in Texas Pacific Land.
• Despite a 0.5% decline in stock price, Texas Pacific Land Corporation reported earnings per share of $5.05, falling short of analysts’ expectations of $5.48.

Strategy Asset Managers LLC purchased a new position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 435 shares of the financial services provider's stock, valued at approximately $576,000.

Other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in shares of Texas Pacific Land by 16.4% during the fourth quarter. Russell Investments Group Ltd. now owns 9,501 shares of the financial services provider's stock worth $10,509,000 after purchasing an additional 1,340 shares in the last quarter. Bank of Montreal Can boosted its holdings in Texas Pacific Land by 164.9% in the 4th quarter. Bank of Montreal Can now owns 17,377 shares of the financial services provider's stock worth $19,218,000 after buying an additional 10,816 shares during the last quarter. Invesco Ltd. increased its stake in Texas Pacific Land by 203.4% during the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after buying an additional 200,841 shares in the last quarter. Shelton Capital Management raised its holdings in shares of Texas Pacific Land by 161.8% during the fourth quarter. Shelton Capital Management now owns 1,906 shares of the financial services provider's stock valued at $2,108,000 after acquiring an additional 1,178 shares during the last quarter. Finally, Bank of Nova Scotia lifted its position in shares of Texas Pacific Land by 144.2% in the fourth quarter. Bank of Nova Scotia now owns 2,317 shares of the financial services provider's stock valued at $2,563,000 after acquiring an additional 1,368 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded down $3.87 during trading on Friday, reaching $863.59. The stock had a trading volume of 160,188 shares, compared to its average volume of 168,122. 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 cap of $19.85 billion, a PE ratio of 43.05 and a beta of 1.14. The business has a fifty day moving average price of $1,031.57 and a 200-day moving average price of $1,219.38.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly 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 during the quarter, compared to analysts' expectations 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 business 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 dividend of $1.60 per share. 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 payout ratio is currently 31.90%.

Texas Pacific Land 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.