Aberdeen Group plc Purchases 8,721 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Aberdeen Group plc significantly increased its holdings in Texas Pacific Land Corporation by 156.5% in the first quarter, owning approximately 0.06% of the company valued at $18.73 million.
• Texas Pacific Land recently reported earnings of $5.05 per share, missing expectations, with revenues of $187.54 million compared to forecasts of $198 million.
• The company declared a quarterly dividend of $1.60 per share, with an annualized yield of 0.7%, payable on September 16th to shareholders of record as of September 2nd.

Aberdeen Group plc grew its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 156.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,294 shares of the financial services provider's stock after purchasing an additional 8,721 shares during the quarter. Aberdeen Group plc owned about 0.06% of Texas Pacific Land worth $18,733,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Allworth Financial LP raised its holdings in 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 acquiring an additional 8 shares during the period. Riversedge Advisors LLC grew its position in shares of Texas Pacific Land by 2.2% during the 1st quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider's stock worth $490,000 after purchasing an additional 8 shares in the last quarter. Hemington Wealth Management grew its position in shares of Texas Pacific Land by 66.7% during the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock worth $26,000 after purchasing an additional 8 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Texas Pacific Land by 13.0% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider's stock worth $103,000 after purchasing an additional 9 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Texas Pacific Land by 0.4% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,093 shares of the financial services provider's stock worth $2,773,000 after acquiring an additional 9 shares during the period. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Price Performance

TPL stock traded up $31.0650 during trading on Friday, reaching $911.3450. 67,222 shares of the company were exchanged, compared to its average volume of 138,102. The company has a 50-day moving average of $991.59 and a two-hundred day moving average of $1,192.19. The company has a market capitalization of $20.95 billion, a price-to-earnings ratio of 45.43 and a beta of 1.14. Texas Pacific Land Corporation has a twelve month low of $766.51 and a twelve month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its 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). The business had revenue of $187.54 million for the quarter, compared to the consensus estimate 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 disclosed 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 dividend payout ratio is presently 31.90%.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of Texas Pacific Land stock in a transaction dated Thursday, August 14th. The shares were purchased at an average cost of $915.00 per share, with a total value of $91,500.00. Following the completion of the purchase, the director owned 393,400 shares of the company's stock, valued at approximately $359,961,000. This represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders bought 230 shares of company stock worth $238,038. 6.50% of the stock is owned by insiders.

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.