Texas Pacific Land Corporation $TPL Shares Bought by Amundi

Key Points

• Amundi increased its stake in Texas Pacific Land Corporation (NYSE:TPL) by 3.2%, owning 72,427 shares now valued at approximately $88 million.
• The company's most recent earnings report showed $5.05 earnings per share, which was below the consensus estimate of $5.48, and a revenue of $187.54 million, missing estimates.
• Texas Pacific Land declared a quarterly dividend of $1.60 per share, with a dividend yield of 0.7%, set to be paid on September 16th.

Amundi lifted its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 72,427 shares of the financial services provider's stock after buying an additional 2,237 shares during the period. Amundi owned approximately 0.32% of Texas Pacific Land worth $88,432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TPL. Hemington Wealth Management raised its stake in Texas Pacific Land by 66.7% during the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 8 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Texas Pacific Land by 110.0% in the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 11 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of Texas Pacific Land in the first quarter valued at approximately $28,000. Allworth Financial LP lifted its holdings in shares of 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 purchasing an additional 8 shares during the period. Finally, GW&K Investment Management LLC lifted its holdings in shares of 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 purchasing an additional 19 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

TPL traded up $2.91 during trading on Thursday, hitting $940.54. The stock had a trading volume of 95,693 shares, compared to its average volume of 125,008. The firm has a market capitalization of $21.62 billion, a P/E ratio of 46.89 and a beta of 1.19. Texas Pacific Land Corporation has a twelve month low of $789.17 and a twelve month high of $1,769.14. The company's 50-day moving average price is $945.51 and its 200 day moving average price is $1,145.70.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 EPS for the quarter, missing the consensus estimate of $5.48 by ($0.43). The firm had revenue of $187.54 million during the quarter, compared to analyst estimates 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 disclosed 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. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Pacific Land's payout ratio is currently 31.90%.

Insiders Place Their Bets

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of the company's stock in a transaction on 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders purchased 260 shares of company stock valued at $245,052. 6.50% of the stock is currently owned by insiders.

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.