Texas Pacific Land Corporation $TPL Shares Acquired by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. increased its holdings in Texas Pacific Land Corporation by 17.7%, owning 2,121 shares worth approximately $2.81 million following the purchase of 319 additional shares.
• Several institutional investors saw significant increases in their stakes in Texas Pacific Land, with notable boosts from Hemington Wealth Management (66.7%) and GW&K Investment Management (237.5%) in the 1st quarter of 2023.
• Texas Pacific Land Corporation announced a quarterly dividend of $1.60, with a 0.7% yield, scheduled for payment on September 16 to investors of record as of September 2.

1832 Asset Management L.P. increased its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 17.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,121 shares of the financial services provider's stock after buying an additional 319 shares during the period. 1832 Asset Management L.P.'s holdings in Texas Pacific Land were worth $2,810,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hemington Wealth Management boosted its holdings in shares of Texas Pacific Land by 66.7% in the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after buying an additional 8 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of Texas Pacific Land by 110.0% in the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after buying an additional 11 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of Texas Pacific Land in the 1st quarter valued at about $28,000. Allworth Financial LP boosted its holdings in shares of Texas Pacific Land by 42.1% in the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after buying an additional 8 shares during the period. Finally, GW&K Investment Management LLC boosted its holdings in shares of Texas Pacific Land by 237.5% in the 1st quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock valued at $36,000 after buying an additional 19 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Eric L. Oliver acquired 100 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were purchased at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the transaction, the director directly owned 393,600 shares in the company, valued at $346,867,872. This trade represents a 0.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have bought 330 shares of company stock valued at $326,165. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Performance

NYSE TPL opened at $909.2570 on Monday. Texas Pacific Land Corporation has a one year low of $766.51 and a one year high of $1,769.14. The company has a 50-day simple moving average of $987.42 and a 200-day simple moving average of $1,186.66. The firm has a market capitalization of $20.90 billion, a PE ratio of 45.33 and a beta of 1.14.

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 EPS 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 analyst estimates of $198.00 million. Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Announces Dividend

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 $1.60 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $6.40 annualized dividend and a yield of 0.7%. Texas Pacific Land's dividend payout ratio (DPR) 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.

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