Texas Pacific Land Corporation $TPL Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has increased its stake in Texas Pacific Land Corporation by 10.6%, owning 0.36% of the company, valued at approximately $108.97 million.
• Multiple hedge funds have significantly raised their positions in Texas Pacific Land, with Hemington Wealth Management increasing holdings by 66.7% during the same quarter.
• The company is set to pay a quarterly dividend of $1.60 per share on September 16th, with a yield of 0.7% and a payout ratio of 31.90%.

Goldman Sachs Group Inc. boosted its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 82,242 shares of the financial services provider's stock after buying an additional 7,882 shares during the quarter. Goldman Sachs Group Inc. owned 0.36% of Texas Pacific Land worth $108,970,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TPL. Hemington Wealth Management grew its position in Texas Pacific Land by 66.7% in 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 last quarter. Golden State Wealth Management LLC grew its position in 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 worth $28,000 after buying an additional 11 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Texas Pacific Land in the first quarter worth approximately $28,000. Allworth Financial LP grew its position in Texas Pacific Land by 42.1% in 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 last quarter. Finally, GW&K Investment Management LLC grew its position in Texas Pacific Land by 237.5% in 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 last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Buying and Selling

In other news, Director Eric L. Oliver acquired 100 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was purchased at an average price of $881.27 per share, with a total value of $88,127.00. Following the purchase, 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have purchased 250 shares of company stock valued at $233,885. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $936.99 on Friday. The firm has a market cap of $21.54 billion, a price-to-earnings ratio of 46.71 and a beta of 1.19. Texas Pacific Land Corporation has a 1 year low of $801.40 and a 1 year high of $1,769.14. The firm's 50 day moving average price is $942.73 and its two-hundred day moving average price is $1,143.27.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.48 by ($0.43). The business 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a $1.60 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. Texas Pacific Land's dividend payout ratio (DPR) is currently 31.90%.

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.

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