Texas Pacific Land Corporation $TPL Holdings Raised by Procyon Advisors LLC

Key Points

• Procyon Advisors LLC significantly increased its stake in Texas Pacific Land Corporation by 317.9% during the second quarter, owning 723 shares valued at approximately $764,000.
• Recently, Texas Pacific Land reported earnings per share of $5.05, missing the estimate of $5.48, along with revenue of $187.54 million compared to expectations of $198 million.
• The company declared a $1.60 quarterly dividend, representing a 0.7% yield and an annualized payout of $6.40, with a dividend payout ratio of 31.90%.

Procyon Advisors LLC grew its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 317.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 723 shares of the financial services provider's stock after acquiring an additional 550 shares during the quarter. Procyon Advisors LLC's holdings in Texas Pacific Land were worth $764,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Texas Pacific Land by 4.9% during the first quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider's stock worth $3,267,588,000 after purchasing an additional 115,743 shares during the last quarter. GAMMA Investing LLC raised its position in Texas Pacific Land by 241,048.0% in the first quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock worth $479,278,000 after acquiring an additional 361,572 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Texas Pacific Land by 2.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 183,485 shares of the financial services provider's stock worth $243,116,000 after acquiring an additional 3,850 shares in the last quarter. Schwartz Investment Counsel Inc. raised its position in Texas Pacific Land by 0.4% in the first quarter. Schwartz Investment Counsel Inc. now owns 150,823 shares of the financial services provider's stock worth $199,839,000 after acquiring an additional 642 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Texas Pacific Land by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 126,347 shares of the financial services provider's stock worth $167,386,000 after acquiring an additional 2,623 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Transactions at Texas Pacific Land

In other news, Director Eric L. Oliver acquired 100 shares of Texas Pacific Land stock in a transaction dated Thursday, August 21st. The shares were acquired at an average cost of $881.27 per share, with a total value of $88,127.00. Following the purchase, the director directly owned 393,600 shares of the company's stock, valued at approximately $346,867,872. This trade represents a 0.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders bought 220 shares of company stock valued at $201,181. 6.50% of the stock is currently owned by company insiders.

Texas Pacific Land Stock Performance

NYSE:TPL traded down $39.65 during trading hours on Friday, hitting $873.62. The company's stock had a trading volume of 426,686 shares, compared to its average volume of 118,139. The business's 50-day moving average is $929.60 and its two-hundred day moving average is $1,125.77. The company has a market capitalization of $20.08 billion, a PE ratio of 43.55 and a beta of 1.19. Texas Pacific Land Corporation has a 52-week low of $845.56 and a 52-week high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $187.54 million during the quarter, compared to analysts' expectations of $198.00 million.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio (DPR) is presently 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.