Texas Pacific Land Corporation $TPL Stock Position Lifted by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

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 stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 23.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,999 shares of the financial services provider's stock after purchasing an additional 17,066 shares during the period. 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 reporting period.

A number of other institutional investors have also modified their holdings of the stock. Woodline Partners LP increased its holdings in shares of Texas Pacific Land by 40.8% in the first quarter. Woodline Partners LP now owns 1,592 shares of the financial services provider's stock valued at $2,109,000 after purchasing an additional 461 shares during the period. MBB Public Markets I LLC purchased a new stake in shares of Texas Pacific Land in the first quarter valued at $306,000. United Services Automobile Association acquired a new stake in Texas Pacific Land in the 1st quarter worth about $554,000. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Texas Pacific Land by 418.5% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,343 shares of the financial services provider's stock worth $1,779,000 after buying an additional 1,084 shares during the last quarter. Finally, Caxton Associates LLP acquired a new stake in Texas Pacific Land in the 1st quarter worth about $363,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Insiders Place Their Bets

In other Texas Pacific Land news, Director Eric L. Oliver acquired 100 shares of the stock in a transaction on Thursday, August 21st. The stock was purchased at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the purchase, the director directly owned 393,600 shares in the company, valued at $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders purchased 230 shares of company stock worth $212,000. 6.50% of the stock is owned by company insiders.

Texas Pacific Land Trading Up 1.4%

Shares of Texas Pacific Land stock traded up $13.20 during trading hours on Thursday, reaching $926.20. The stock had a trading volume of 26,553 shares, compared to its average volume of 136,469. Texas Pacific Land Corporation has a 1 year low of $845.56 and a 1 year high of $1,769.14. The firm has a market capitalization of $21.29 billion, a price-to-earnings ratio of 46.17 and a beta of 1.19. The firm has a 50 day simple moving average of $935.75 and a two-hundred day simple moving average of $1,133.88.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $198.00 million.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid 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 was Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 31.90%.

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.