American Century Companies Inc. Sells 7,647 Shares of Texas Pacific Land Corporation $TPL

Key Points

• American Century Companies Inc. reduced its stake in Texas Pacific Land Corporation (NYSE:TPL) by 36.5% during Q1, owning 0.06% of the company, valued at approximately $17.6 million.
• Hedge funds and institutional investors hold approximately 59.94% of Texas Pacific Land's stock, indicating significant institutional interest.
• The company recently announced a quarterly dividend of $1.60 per share, with an annualized yield of 0.7% and a payout ratio of 31.90%.

American Century Companies Inc. decreased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 36.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,278 shares of the financial services provider's stock after selling 7,647 shares during the period. American Century Companies Inc. owned 0.06% of Texas Pacific Land worth $17,593,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in TPL. Hemington Wealth Management boosted 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 purchasing an additional 8 shares during the period. Golden State Wealth Management LLC boosted its stake in 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 valued at $28,000 after purchasing an additional 11 shares during the period. Zions Bancorporation National Association UT bought a new stake in Texas Pacific Land during the 1st quarter valued at approximately $28,000. Allworth Financial LP boosted its stake in Texas Pacific Land by 42.1% during the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 8 shares during the period. Finally, GW&K Investment Management LLC boosted 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 purchasing an additional 19 shares during the period. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Trading Down 0.3%

NYSE:TPL traded down $3.06 during mid-day trading on Wednesday, hitting $907.98. 108,689 shares of the company's stock traded hands, compared to its average volume of 147,725. The firm has a 50 day moving average of $976.62 and a two-hundred day moving average of $1,179.75. Texas Pacific Land Corporation has a 12 month low of $766.51 and a 12 month high of $1,769.14. The firm has a market capitalization of $20.87 billion, a price-to-earnings ratio of 45.26 and a beta of 1.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results 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). 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 the consensus estimate 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 given a $1.60 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. Texas Pacific Land's dividend payout ratio (DPR) is currently 31.90%.

Insider Activity 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 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 owned 393,600 shares of the company's stock, valued at $346,867,872. The trade was a 0.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 320 shares of company stock valued at $313,259. 6.50% of the stock is currently owned by company insiders.

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.