Texas Pacific Land Corporation $TPL Holdings Raised by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Texas Pacific Land Corporation by 11%, owning 28,103 shares valued at approximately $36.9 million.
• Insider activity saw Director Eric L. Oliver purchasing 100 shares of Texas Pacific Land at an average price of $881.27, raising their total holdings to 393,600 shares.
• Texas Pacific Land recently announced a quarterly dividend of $1.60 per share, reflecting a dividend yield of 0.7% and a payout ratio of 31.90%.

Hsbc Holdings PLC raised its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 11.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,103 shares of the financial services provider's stock after purchasing an additional 2,795 shares during the quarter. Hsbc Holdings PLC owned 0.12% of Texas Pacific Land worth $36,924,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TPL. GAMMA Investing LLC grew its stake in Texas Pacific Land by 241,048.0% during the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock valued at $479,278,000 after purchasing an additional 361,572 shares in the last quarter. Vanguard Group Inc. grew its stake in Texas Pacific Land by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider's stock valued at $3,267,588,000 after purchasing an additional 115,743 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Texas Pacific Land by 943.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock valued at $133,883,000 after purchasing an additional 109,455 shares in the last quarter. Nuveen LLC acquired a new stake in Texas Pacific Land during the 1st quarter valued at approximately $68,518,000. Finally, Northern Trust Corp grew its stake in Texas Pacific Land by 21.8% during the 4th quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock valued at $248,584,000 after purchasing an additional 40,185 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Buying and Selling at Texas Pacific Land

In other news, Director Eric L. Oliver purchased 100 shares of the stock in a transaction dated Thursday, August 21st. The stock was acquired at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the acquisition, the director owned 393,600 shares of the company's stock, valued at $346,867,872. The trade was a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 320 shares of company stock valued at $313,259. 6.50% of the stock is currently owned by insiders.

Texas Pacific Land Trading Up 0.4%

NYSE TPL traded up $4.05 during mid-day trading on Wednesday, reaching $915.09. 61,527 shares of the company's stock traded hands, compared to its average volume of 138,279. Texas Pacific Land Corporation has a 1-year low of $766.51 and a 1-year high of $1,769.14. The company has a fifty day simple moving average of $980.06 and a 200-day simple moving average of $1,181.64. The company has a market cap of $21.04 billion, a price-to-earnings ratio of 45.62 and a beta of 1.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing analysts' consensus estimates of $5.48 by ($0.43). Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%. The business had revenue of $187.54 million for the quarter, compared to analyst estimates of $198.00 million.

Texas Pacific Land Announces Dividend

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 issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, September 2nd. Texas Pacific Land's payout ratio is 31.90%.

About Texas Pacific Land

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.