641 Shares in Texas Pacific Land Corporation $TPL Purchased by Strs Ohio

Key Points

• Strs Ohio has acquired 641 shares of Texas Pacific Land Corporation, amounting to approximately $849,000, marking a new investment position in the company.
• Texas Pacific Land recently reported a net margin of 62.16% and earnings of $5.05 per share, which fell short of analysts' expectations.
• In the first quarter, 59.94% of Texas Pacific Land's stock is owned by institutional investors and hedge funds, highlighting significant institutional interest in the company.

Strs Ohio acquired a new stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 641 shares of the financial services provider's stock, valued at approximately $849,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hemington Wealth Management boosted its holdings in Texas Pacific Land by 66.7% in the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock worth $26,000 after purchasing an additional 8 shares during the last quarter. Golden State Wealth Management LLC raised its position in 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 acquiring an additional 11 shares during the period. Zions Bancorporation National Association UT bought a new position in Texas Pacific Land in the first quarter worth approximately $28,000. Allworth Financial LP raised its position in Texas Pacific Land by 42.1% in the first 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 raised its position 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 during the period. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Up 5.1%

TPL traded up $44.75 during trading on Tuesday, hitting $921.71. The company's stock had a trading volume of 19,271 shares, compared to its average volume of 138,021. Texas Pacific Land Corporation has a one year low of $845.56 and a one year high of $1,769.14. The firm has a market cap of $21.19 billion, a PE ratio of 45.95 and a beta of 1.19. The business's 50 day simple moving average is $926.46 and its 200-day simple moving average is $1,121.06.

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

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $1.60 dividend. The ex-dividend date of this dividend was 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 31.90%.

Insider Activity

In other news, Director Eric L. Oliver acquired 100 shares of Texas Pacific Land stock in a transaction dated Thursday, August 21st. The stock was purchased at an average cost of $881.27 per share, with a total value of $88,127.00. Following the completion of the purchase, the director directly owned 393,600 shares in the company, valued at approximately $346,867,872. This trade represents a 0.03% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 210 shares of company stock valued at $190,205 over the last three months. Corporate insiders own 6.50% of the company's stock.

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.