UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Raises Position in Texas Pacific Land Corporation $TPL

Key Points

• UBS Asset Management increased its holdings in Texas Pacific Land Corporation (TPL) by 23.1% in the first quarter, bringing its total ownership to nearly $120.6 million.
• In addition to UBS, other institutional investors significantly raised their positions in TPL, with Hemington Wealth Management and Golden State Wealth Management increasing their stakes by 66.7% and 110.0%, respectively.
• Texas Pacific Land recently announced a quarterly dividend of $1.60 per share, with an annualized dividend yield of 0.7% and a payout ratio of 31.90%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 23.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 90,999 shares of the financial services provider's stock after purchasing an additional 17,066 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.40% of Texas Pacific Land worth $120,573,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Hemington Wealth Management raised its position in shares of Texas Pacific Land by 66.7% in the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock worth $26,000 after buying an additional 8 shares during the period. Golden State Wealth Management LLC raised its position in shares of Texas Pacific Land by 110.0% in 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 purchased a new position in shares of Texas Pacific Land in the 1st quarter worth $28,000. Allworth Financial LP raised 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 buying an additional 8 shares during the period. Finally, GW&K Investment Management LLC raised its position in shares of Texas Pacific Land by 237.5% in the 1st quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock worth $36,000 after buying an additional 19 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Buying and Selling at Texas Pacific Land

In other news, Director Eric L. Oliver purchased 100 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was acquired at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the purchase, the director owned 393,600 shares of the company's stock, valued at approximately $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 250 shares of company stock worth $233,885 in the last three months. 6.50% of the stock is owned by company insiders.

Texas Pacific Land Trading Down 0.2%

Shares of TPL opened at $936.99 on Friday. The firm has a market capitalization of $21.54 billion, a P/E ratio of 46.71 and a beta of 1.19. The stock's fifty day simple moving average is $942.73 and its 200 day simple moving average is $1,143.27. Texas Pacific Land Corporation has a twelve month low of $801.40 and a twelve month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released 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 net margin of 62.16% and a return on equity of 39.47%. The company had revenue of $187.54 million during the quarter, compared to analysts' expectations of $198.00 million.

Texas Pacific Land Dividend Announcement

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