United Services Automobile Association Makes New Investment in Texas Pacific Land Corporation $TPL

Key Points

• United Services Automobile Association acquired 424 shares of Texas Pacific Land Corporation (TPL) valued at approximately $554,000 in the first quarter, according to its latest SEC filing.
• Texas Pacific Land Corporation recently reported an EPS of $5.05 for its last quarter, missing analysts' estimates, along with a revenue of $187.54 million.
• The company declared a quarterly dividend of $1.60 per share, which will be paid to shareholders on September 16th, representing an annualized yield of 0.7%.

United Services Automobile Association purchased a new position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 424 shares of the financial services provider's stock, valued at approximately $554,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Toronto Dominion Bank grew its holdings in Texas Pacific Land by 173.6% during the fourth quarter. Toronto Dominion Bank now owns 6,364 shares of the financial services provider's stock worth $7,038,000 after purchasing an additional 4,038 shares during the period. Spring Capital Management LLC bought a new position in Texas Pacific Land during the first quarter worth about $5,008,000. ProShare Advisors LLC grew its holdings in Texas Pacific Land by 347.0% during the fourth quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider's stock worth $4,059,000 after purchasing an additional 2,849 shares during the period. AustralianSuper Pty Ltd grew its holdings in Texas Pacific Land by 4.8% during the first quarter. AustralianSuper Pty Ltd now owns 8,591 shares of the financial services provider's stock worth $11,383,000 after purchasing an additional 391 shares during the period. Finally, Golden State Wealth Management LLC grew its holdings in Texas Pacific Land by 110.0% during the first 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. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Texas Pacific Land stock traded down $1.93 during midday trading on Monday, reaching $935.25. 24,721 shares of the company's stock were exchanged, compared to its average volume of 136,645. Texas Pacific Land Corporation has a 52 week low of $810.18 and a 52 week high of $1,769.14. The firm has a market cap of $21.50 billion, a price-to-earnings ratio of 46.59 and a beta of 1.19. The stock's 50-day simple moving average is $942.73 and its 200 day simple moving average is $1,140.33.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $187.54 million for the quarter, compared to the consensus estimate of $198.00 million.

Texas Pacific Land Announces Dividend

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

Insider Transactions at Texas Pacific Land

In related news, Director Eric L. Oliver acquired 100 shares of the business's stock in a transaction on Thursday, August 21st. The stock was purchased at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the transaction, the director directly owned 393,600 shares of the company's stock, valued at approximately $346,867,872. The trade was a 0.03% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 240 shares of company stock worth $222,802 in the last three months. 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.