Corebridge Financial Inc. lifted its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 21.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,076 shares of the financial services provider's stock after acquiring an additional 1,086 shares during the quarter. Corebridge Financial Inc.'s holdings in Texas Pacific Land were worth $8,051,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Texas Pacific Land by 241,048.0% in the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock worth $479,278,000 after buying an additional 361,572 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of 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 valued at $3,267,588,000 after acquiring an additional 115,743 shares in the last quarter. Nuveen LLC purchased a new position in shares of Texas Pacific Land in the first quarter valued at approximately $68,518,000. Northern Trust Corp boosted its stake in shares of Texas Pacific Land by 21.8% in the fourth quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock worth $248,584,000 after acquiring an additional 40,185 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Texas Pacific Land in the fourth quarter worth approximately $37,624,000. Institutional investors and hedge funds own 59.94% of the company's stock.
Insider Transactions at Texas Pacific Land
In other Texas Pacific Land news, Director Eric L. Oliver acquired 100 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was bought at an average price of $881.27 per share, with a total value of $88,127.00. Following the purchase, the director owned 393,600 shares in the company, valued at approximately $346,867,872. The trade was a 0.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have bought 310 shares of company stock worth $301,078. 6.50% of the stock is currently owned by corporate insiders.
Texas Pacific Land Stock Performance
Shares of NYSE:TPL traded up $13.32 during trading on Friday, reaching $935.21. The stock had a trading volume of 106,692 shares, compared to its average volume of 145,369. The business has a fifty day moving average price of $970.55 and a 200-day moving average price of $1,171.20. The stock has a market cap of $21.50 billion, a PE ratio of 46.62 and a beta of 1.19. 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 analysts' consensus estimates of $5.48 by ($0.43). The firm had revenue of $187.54 million during 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a $1.60 dividend. The ex-dividend date of this dividend 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 payout ratio is currently 31.90%.
About Texas Pacific Land
(
Free Report)
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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