Vident Advisory LLC Purchases 3,004 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Vident Advisory LLC significantly increased its stake in Texas Pacific Land Corporation by 639.1% during the first quarter, acquiring a total of 3,474 shares valued at approximately $4.6 million.
• In addition to Vident, several other hedge funds, like Hemington Wealth Management and Golden State Wealth Management, also increased their positions in the company, indicating strong institutional interest.
• Texas Pacific Land recently announced a quarterly dividend of $1.60 per share, which reflects an annualized payout of $6.40 and a yield of 0.7%, with a payout ratio of 31.90%.

Vident Advisory LLC increased its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 639.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,474 shares of the financial services provider's stock after purchasing an additional 3,004 shares during the period. Vident Advisory LLC's holdings in Texas Pacific Land were worth $4,603,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Riversedge Advisors LLC grew its stake in Texas Pacific Land by 2.2% in the first quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider's stock worth $490,000 after purchasing an additional 8 shares during the period. Allworth Financial LP grew its stake in shares of 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 acquiring an additional 8 shares during the last quarter. Hemington Wealth Management grew its stake in shares of 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 acquiring an additional 8 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Texas Pacific Land by 13.0% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider's stock worth $103,000 after acquiring an additional 9 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Texas Pacific Land by 0.4% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,093 shares of the financial services provider's stock worth $2,773,000 after acquiring an additional 9 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

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 in the company, valued at $346,867,872. The trade was a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders bought a total of 290 shares of company stock valued at $278,442 over the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock traded up $14.95 during trading on Thursday, hitting $924.43. 51,378 shares of the company's stock traded hands, compared to its average volume of 137,881. Texas Pacific Land Corporation has a 1 year low of $766.51 and a 1 year high of $1,769.14. The stock has a market capitalization of $21.25 billion, a P/E ratio of 46.02 and a beta of 1.19. The business has a 50-day simple moving average of $963.35 and a 200-day simple moving average of $1,164.81.

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

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given 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 dividend yield of 0.7%. Texas Pacific Land's dividend payout ratio (DPR) is 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.