Texas Pacific Land Corporation $TPL Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD decreased its holdings in Texas Pacific Land Corporation by 4.9%, owning approximately 0.50% of the company after selling nearly 6,000 shares.
• Insider Eric L. Oliver purchased 100 shares at a cost of $881.27 per share, increasing his stake in the company to nearly 393,600 shares valued at approximately $346.87 million.
• Texas Pacific Land has announced a quarterly dividend of $1.60 per share, translating to an annualized dividend of $6.40 and a yield of 0.7%.

Price T Rowe Associates Inc. MD lessened its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 115,086 shares of the financial services provider's stock after selling 5,969 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.50% of Texas Pacific Land worth $152,489,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TPL. Jump Financial LLC acquired a new stake in Texas Pacific Land during the 4th quarter worth approximately $247,000. NewEdge Advisors LLC grew its stake in Texas Pacific Land by 58.6% during the fourth quarter. NewEdge Advisors LLC now owns 525 shares of the financial services provider's stock worth $580,000 after buying an additional 194 shares during the period. TD Waterhouse Canada Inc. increased its position in shares of Texas Pacific Land by 45.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock worth $53,000 after acquiring an additional 15 shares in the last quarter. Syon Capital LLC purchased a new position in shares of Texas Pacific Land in the 4th quarter valued at $231,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in shares of Texas Pacific Land during the 4th quarter valued at $428,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Texas Pacific Land

In other news, Director Eric L. Oliver bought 100 shares of Texas Pacific Land stock in a transaction dated Thursday, August 21st. The shares were acquired at an average cost of $881.27 per share, with a total value of $88,127.00. Following the completion of the transaction, the director owned 393,600 shares in the company, valued at approximately $346,867,872. This trade represents a 0.03% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 330 shares of company stock valued at $326,165 over the last three months. 6.50% of the stock is owned by company insiders.

Texas Pacific Land Trading Up 3.3%

Shares of Texas Pacific Land stock opened at $909.2570 on Monday. Texas Pacific Land Corporation has a twelve month low of $766.51 and a twelve month high of $1,769.14. The stock has a market cap of $20.90 billion, a price-to-earnings ratio of 45.33 and a beta of 1.14. The company has a fifty day moving average price of $987.42 and a 200 day moving average price of $1,186.66.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $187.54 million for the quarter, compared to analyst estimates of $198.00 million.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio is currently 31.90%.

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.

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