United Services Automobile Association Acquires Shares of 424 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 acquired a new stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 424 shares of the financial services provider's stock, valued at approximately $554,000.

Several other hedge funds have also recently modified their holdings of TPL. Cetera Investment Advisers lifted its position 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 worth $1,945,000 after purchasing an additional 54 shares during the period. CoreCap Advisors LLC lifted its position in shares of Texas Pacific Land by 5,700.0% in the 4th quarter. CoreCap Advisors LLC now owns 58 shares of the financial services provider's stock worth $64,000 after purchasing an additional 57 shares during the period. Deutsche Bank AG lifted its position in shares of Texas Pacific Land by 102.9% in the 4th quarter. Deutsche Bank AG now owns 64,643 shares of the financial services provider's stock worth $71,493,000 after purchasing an additional 32,778 shares during the period. Ensign Peak Advisors Inc lifted its position in shares of Texas Pacific Land by 43.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 10,725 shares of the financial services provider's stock worth $11,861,000 after purchasing an additional 3,255 shares during the period. Finally, Gotham Asset Management LLC lifted its position in shares of Texas Pacific Land by 212.9% in the 4th quarter. Gotham Asset Management LLC now owns 5,716 shares of the financial services provider's stock worth $6,322,000 after purchasing an additional 3,889 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Down 1.2%

NYSE TPL opened at $901.31 on Wednesday. The firm has a market cap of $20.72 billion, a PE ratio of 44.93 and a beta of 1.19. The company has a 50 day moving average price of $950.97 and a 200 day moving average price of $1,149.61. Texas Pacific Land Corporation has a 52 week low of $766.51 and a 52 week high of $1,769.14.

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). The firm had revenue of $187.54 million for the quarter, compared to the consensus estimate of $198.00 million. Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders 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 dividend on an annualized basis and a yield of 0.7%. Texas Pacific Land's dividend payout ratio is presently 31.90%.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver acquired 100 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were acquired at an average cost of $881.27 per share, with a total value of $88,127.00. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders have purchased 260 shares of company stock worth $245,052. Corporate insiders own 6.50% of the company's stock.

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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