Vident Advisory LLC Boosts Position in 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 lifted its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 639.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,474 shares of the financial services provider's stock after acquiring an additional 3,004 shares during the period. Vident Advisory LLC's holdings in Texas Pacific Land were worth $4,603,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hemington Wealth Management lifted its position in Texas Pacific Land by 66.7% during the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock worth $26,000 after purchasing an additional 8 shares during the period. Golden State Wealth Management LLC grew its position in shares of Texas Pacific Land by 110.0% during the 1st 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 period. Zions Bancorporation National Association UT bought a new position in shares of Texas Pacific Land in the 1st quarter worth $28,000. Allworth Financial LP lifted its holdings in shares of Texas Pacific Land by 42.1% in the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock worth $36,000 after purchasing an additional 8 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its stake in Texas Pacific Land by 237.5% during the 1st quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 19 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock traded down $29.70 during trading hours on Friday, hitting $899.23. 39,794 shares of the company's stock traded hands, compared to its average volume of 137,517. Texas Pacific Land Corporation has a 12-month low of $766.51 and a 12-month high of $1,769.14. The stock has a market capitalization of $20.67 billion, a price-to-earnings ratio of 44.86 and a beta of 1.19. The company has a fifty day simple moving average of $960.43 and a 200-day simple moving average of $1,161.73.

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 the consensus estimate of $5.48 by ($0.43). The firm had revenue of $187.54 million during the quarter, compared to analysts' expectations 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 31.90%.

Insider Activity

In other news, Director Eric L. Oliver bought 100 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was bought at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the transaction, the director directly owned 393,600 shares of the company's stock, valued at $346,867,872. This represents a 0.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders bought 280 shares of company stock worth $267,306. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Company 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.