Texas Pacific Land Corporation $TPL Stock Holdings Increased by Promethium Advisors LLC

Key Points

• Promethium Advisors LLC increased its stake in Texas Pacific Land Corporation by 34.4%, making it the firm's second largest position, valued at approximately $6.8 million.
• Director Eric L. Oliver bought 100 shares of the company stock, raising his total ownership to 393,600 shares, valued at around $346.9 million.
• Texas Pacific Land Corporation announced a $1.60 quarterly dividend for investors of record on September 2nd, translating to an annual yield of 0.7%.

Promethium Advisors LLC raised its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 34.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,115 shares of the financial services provider's stock after acquiring an additional 1,310 shares during the quarter. Texas Pacific Land makes up approximately 4.3% of Promethium Advisors LLC's portfolio, making the stock its 2nd biggest position. Promethium Advisors LLC's holdings in Texas Pacific Land were worth $6,777,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in 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 lifted its stake 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 valued at $479,278,000 after buying an additional 361,572 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 valued at $243,116,000 after buying an additional 3,850 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its stake 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 valued at $199,839,000 after buying an additional 642 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake 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 valued at $167,386,000 after buying an additional 2,623 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Trading Down 4.1%

Shares of Texas Pacific Land stock traded down $37.78 during trading hours on Friday, hitting $891.15. 137,724 shares of the company were exchanged, compared to its average volume of 129,228. Texas Pacific Land Corporation has a 1 year low of $766.51 and a 1 year high of $1,769.14. The business has a 50-day moving average of $957.19 and a 200-day moving average of $1,158.11. The stock has a market capitalization of $20.48 billion, a price-to-earnings ratio of 44.42 and a beta of 1.19.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced 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 return on equity of 39.47% and a net margin of 62.16%.The business had revenue of $187.54 million for the quarter, compared to analyst estimates of $198.00 million.

Texas Pacific Land Dividend Announcement

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

Insiders Place Their Bets

In other 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 price of $881.27 per share, with a total value of $88,127.00. Following the completion of the acquisition, the director owned 393,600 shares of the company's stock, valued at approximately $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 280 shares of company stock valued at $267,306 over the last quarter. 6.50% of the stock is currently owned by corporate 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.