Gotham Asset Management LLC Has $14.92 Million Stock Position in Texas Pacific Land Corporation $TPL

Key Points

• Gotham Asset Management LLC significantly increased its holdings in Texas Pacific Land Corporation, purchasing an additional 5,545 shares, raising its total ownership by 97.0% to 11,261 shares valued at approximately $14.9 million.
• Texas Pacific Land reported earnings per share of $5.05 for the last quarter, missing estimates by $0.43, while revenue totaled $187.54 million, falling short of the $198 million expected.
• The company announced a quarterly dividend of $1.60 per share, with an annualized dividend yield of 0.7%, set to be paid on September 16th.

Gotham Asset Management LLC lifted its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 97.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,261 shares of the financial services provider's stock after purchasing an additional 5,545 shares during the period. Gotham Asset Management LLC's holdings in Texas Pacific Land were worth $14,921,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TPL. BOKF NA boosted its position in shares of Texas Pacific Land by 2.4% in the fourth quarter. BOKF NA now owns 953 shares of the financial services provider's stock valued at $1,054,000 after acquiring an additional 22 shares during the period. Centiva Capital LP acquired a new stake in Texas Pacific Land during the fourth quarter valued at approximately $353,000. Cetera Investment Advisers boosted its holdings in Texas Pacific Land by 3.2% during the fourth quarter. Cetera Investment Advisers now owns 1,758 shares of the financial services provider's stock valued at $1,945,000 after purchasing an additional 54 shares in the last quarter. Crestline Management LP bought a new stake in Texas Pacific Land during the 4th quarter worth approximately $451,000. Finally, CoreCap Advisors LLC grew its position in Texas Pacific Land by 5,700.0% during the 4th quarter. CoreCap Advisors LLC now owns 58 shares of the financial services provider's stock worth $64,000 after acquiring an additional 57 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Up 4.1%

NYSE:TPL traded up $37.06 during trading hours on Wednesday, hitting $937.18. 71,235 shares of the stock were exchanged, compared to its average volume of 137,513. The company'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 $21.55 billion, a P/E ratio of 46.72 and a beta of 1.19.

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

Texas Pacific Land Announces Dividend

The company 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 dividend of $1.60 per share. 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 currently 31.90%.

Insider Transactions at Texas Pacific Land

In other news, Director Eric L. Oliver acquired 100 shares of Texas Pacific Land stock in a transaction on Thursday, August 21st. The shares were purchased at an average price of $881.27 per share, with a total value of $88,127.00. Following the acquisition, the director owned 393,600 shares in the company, valued at $346,867,872. This represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders acquired 260 shares of company stock worth $245,052. 6.50% of the stock is currently owned by corporate 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.