Sapient Capital LLC Sells 3,350 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Sapient Capital LLC reduced its stake in Texas Pacific Land Corporation by 18.8%, now owning 14,514 shares valued at approximately $15.3 million.
• The quarterly earnings report showed earnings per share of $5.05, missing analyst estimates of $5.48, with a revenue of $187.54 million compared to expected $198 million.
• Texas Pacific Land announced a quarterly dividend of $1.60, representing an annualized yield of 0.7% and a dividend payout ratio of 31.90%.

Sapient Capital LLC lowered its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 18.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,514 shares of the financial services provider's stock after selling 3,350 shares during the quarter. Sapient Capital LLC owned approximately 0.06% of Texas Pacific Land worth $15,333,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TPL. Cetera Investment Advisers boosted its stake in shares of Texas Pacific Land by 3.2% in the 4th 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 during the last quarter. Janus Henderson Group PLC raised its holdings in Texas Pacific Land by 21.3% during the 4th quarter. Janus Henderson Group PLC now owns 1,815 shares of the financial services provider's stock worth $2,010,000 after buying an additional 319 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Texas Pacific Land by 60.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,395 shares of the financial services provider's stock valued at $1,543,000 after purchasing an additional 527 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Texas Pacific Land by 0.5% in the fourth quarter. Quantinno Capital Management LP now owns 2,990 shares of the financial services provider's stock valued at $3,308,000 after purchasing an additional 14 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Texas Pacific Land by 347.0% in the fourth quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider's stock valued at $4,059,000 after purchasing an additional 2,849 shares during the last quarter. Institutional investors own 59.94% of the company's stock.

Insider Buying and Selling

In related news, Director Eric L. Oliver acquired 100 shares of Texas Pacific Land stock in a transaction on Thursday, August 21st. The stock was purchased 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 directly owned 393,600 shares in the company, valued at $346,867,872. This trade represents a 0.03% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 220 shares of company stock worth $201,181 over the last three months. Insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Down 4.3%

Shares of NYSE:TPL traded down $39.65 during midday trading on Friday, hitting $873.62. The stock had a trading volume of 426,686 shares, compared to its average volume of 118,139. Texas Pacific Land Corporation has a 12 month low of $845.56 and a 12 month high of $1,769.14. The business's 50-day simple moving average is $929.60 and its 200-day simple moving average is $1,125.77. The company has a market cap of $20.08 billion, a P/E ratio of 43.55 and a beta of 1.19.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released 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 firm had revenue of $187.54 million during the quarter, compared to the consensus estimate of $198.00 million.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Texas Pacific Land's payout ratio is 31.90%.

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.