Texas Pacific Land Corporation $TPL Shares Bought by Meiji Yasuda Asset Management Co Ltd.

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

Several other institutional investors also recently added to or reduced their stakes in TPL. Hemington Wealth Management increased its position in Texas Pacific Land by 66.7% during the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock worth $26,000 after buying an additional 8 shares during the period. Golden State Wealth Management LLC increased its position in Texas Pacific Land by 110.0% during the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock worth $28,000 after buying an additional 11 shares during the period. Zions Bancorporation National Association UT acquired a new position in Texas Pacific Land during the first quarter worth approximately $28,000. Allworth Financial LP increased its position in Texas Pacific Land by 42.1% during the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock worth $36,000 after buying an additional 8 shares during the period. Finally, GW&K Investment Management LLC increased its position in Texas Pacific Land by 237.5% during the first quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock worth $36,000 after buying an additional 19 shares during the period. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Buying and Selling at Texas Pacific Land

In related news, Director Eric L. Oliver bought 100 shares of the stock in a transaction on Thursday, August 21st. The shares were bought at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the purchase, the director owned 393,600 shares of the company's stock, valued at $346,867,872. This trade represents a 0.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders purchased 260 shares of company stock valued at $245,052. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Trading Down 1.2%

Shares of TPL stock opened at $901.31 on Wednesday. The business's 50 day moving average is $950.97 and its two-hundred day moving average is $1,149.61. Texas Pacific Land Corporation has a twelve month low of $766.51 and a twelve month high of $1,769.14. The company has a market capitalization of $20.72 billion, a P/E ratio of 44.93 and a beta of 1.19.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $187.54 million during the quarter, compared to analysts' expectations of $198.00 million.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 31.90%.

Texas Pacific Land 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.

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