Texas Pacific Land Corporation (NYSE:TPL) Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its holdings in Texas Pacific Land Corporation by 4.9%, acquiring an additional 115,743 shares, bringing its total ownership to approximately $3.27 billion.
• The company missed its earnings expectations, reporting $5.05 earnings per share compared to the consensus estimate of $5.48, and generated revenue of $187.54 million against an expected $198 million.
• Texas Pacific Land has announced a quarterly dividend of $1.60 per share, with a payout scheduled for September 16th, representing an annualized yield of 0.7%.

Vanguard Group Inc. grew its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,466,123 shares of the financial services provider's stock after buying an additional 115,743 shares during the quarter. Vanguard Group Inc. owned 10.73% of Texas Pacific Land worth $3,267,588,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Golden State Wealth Management LLC lifted its position in shares of 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 in the last quarter. Bessemer Group Inc. lifted its position in shares of Texas Pacific Land by 108.3% during the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after purchasing an additional 13 shares in the last quarter. Allworth Financial LP lifted its position in shares of Texas Pacific Land by 42.1% during the first 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. GW&K Investment Management LLC lifted its position in shares of Texas Pacific Land by 237.5% during the first quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock worth $36,000 after purchasing an additional 19 shares in the last quarter. Finally, IMA Advisory Services Inc. acquired a new position in shares of Texas Pacific Land during the first quarter worth $36,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Down 0.8%

Shares of NYSE TPL traded down $7.19 during trading on Monday, reaching $854.91. 129,003 shares of the stock were exchanged, compared to its average volume of 138,491. The business's 50-day moving average price is $1,031.57 and its 200 day moving average price is $1,216.71. Texas Pacific Land Corporation has a twelve month low of $766.51 and a twelve month high of $1,769.14. The company has a market capitalization of $19.65 billion, a price-to-earnings ratio of 42.62 and a beta of 1.14.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.48 by ($0.43). The company had revenue of $187.54 million during the quarter, compared to analyst estimates of $198.00 million. Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Dividend Announcement

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 $1.60 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $6.40 annualized dividend and a yield of 0.7%. Texas Pacific Land's dividend payout ratio is currently 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.