Meiji Yasuda Asset Management Co Ltd. Has $1.78 Million Holdings in Texas Pacific Land Corporation $TPL

Key Points

• Meiji Yasuda Asset Management Co Ltd. increased its stake in Texas Pacific Land Corporation by 418.5% in the first quarter, acquiring a total of 1,343 shares valued at approximately $1.78 million.
• Several other institutional investors also increased their positions in Texas Pacific Land during the first quarter, indicating strong interest and confidence in the company's performance.
• Texas Pacific Land Corporation recently announced a quarterly dividend of $1.60 per share, with an annualized dividend yield of 0.7%.

Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 418.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,343 shares of the financial services provider's stock after buying an additional 1,084 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Texas Pacific Land were worth $1,779,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew 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 buying an additional 115,743 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Texas Pacific Land by 241,048.0% during the first 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. Charles Schwab Investment Management Inc. grew its stake in shares of Texas Pacific Land by 2.1% during 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 buying an additional 3,850 shares during the last quarter. Schwartz Investment Counsel Inc. grew its stake in shares of Texas Pacific Land by 0.4% during the first quarter. Schwartz Investment Counsel Inc. now owns 150,823 shares of the financial services provider's stock worth $199,839,000 after buying an additional 642 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Texas Pacific Land by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 126,347 shares of the financial services provider's stock worth $167,386,000 after buying an additional 2,623 shares during the last quarter. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Down 0.2%

Shares of NYSE TPL traded down $1.93 during midday trading on Monday, reaching $935.25. 24,721 shares of the company were exchanged, compared to its average volume of 136,645. The stock's 50-day moving average price is $942.73 and its 200-day moving average price is $1,140.33. The stock has a market cap of $21.50 billion, a P/E ratio of 46.59 and a beta of 1.19. Texas Pacific Land Corporation has a one year low of $810.18 and a one year 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 company 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 Announces Dividend

The firm 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 dividend of $1.60 per share. 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%.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver purchased 100 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were bought at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the acquisition, the director owned 393,600 shares in the company, valued at approximately $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 240 shares of company stock worth $222,802 in the last quarter. 6.50% of the stock is currently owned by insiders.

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.