Tocqueville Asset Management L.P. Has $44.08 Million Holdings in Texas Pacific Land Corporation $TPL

Key Points

• Tocqueville Asset Management L.P. reduced its stake in Texas Pacific Land Corporation (NYSE: TPL) by 0.8%, now holding 33,265 shares valued at approximately $44.1 million.
• Texas Pacific Land recently reported earnings per share (EPS) of $5.05, missing the consensus estimate of $5.48, with revenue also falling short of expectations at $187.54 million.
• The company announced a quarterly dividend of $1.60 per share, reflecting an annualized dividend yield of 0.7% and a payout ratio of 31.90%.

Tocqueville Asset Management L.P. lowered its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 0.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,265 shares of the financial services provider's stock after selling 285 shares during the period. Tocqueville Asset Management L.P. owned about 0.14% of Texas Pacific Land worth $44,076,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TPL. Hemington Wealth Management raised 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 valued at $26,000 after purchasing an additional 8 shares during the period. Golden State Wealth Management LLC increased its holdings 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 worth $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 $28,000. Bessemer Group Inc. boosted its position in Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 13 shares in the last quarter. Finally, Allworth Financial LP boosted its position 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. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Price Performance

NYSE TPL traded down $13.6050 during trading hours on Thursday, reaching $881.1650. The company's stock had a trading volume of 35,082 shares, compared to its average volume of 137,961. The firm has a market capitalization of $20.26 billion, a price-to-earnings ratio of 43.93 and a beta of 1.14. Texas Pacific Land Corporation has a 1-year low of $766.51 and a 1-year high of $1,769.14. The company's 50-day moving average is $996.01 and its two-hundred day moving average is $1,195.34.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted 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 return on equity of 39.47% and a net margin of 62.16%.The firm had revenue of $187.54 million for the quarter, compared to analysts' expectations 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. Investors of record on Tuesday, September 2nd will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend 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

In other news, Director Eric L. Oliver purchased 100 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average price of $915.00 per share, for a total transaction of $91,500.00. Following the acquisition, the director directly owned 393,400 shares in the company, valued at approximately $359,961,000. The trade was a 0.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 240 shares of company stock worth $250,715 over the last 90 days. Company insiders own 6.50% of the company's stock.

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.