Viking Fund Management LLC Buys 300 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Viking Fund Management LLC increased its stake in Texas Pacific Land Corporation by 37.5%, acquiring an additional 300 shares during the second quarter, bringing their total holdings to 1,100 shares valued at $1,162,000.
• The stock price of Texas Pacific Land has decreased by 4.3%, with shares currently trading at approximately $873.62, significantly below its 12-month high of $1,769.14.
• Texas Pacific Land recently declared a quarterly dividend of $1.60 per share, equating to an annualized dividend yield of 0.7%.

Viking Fund Management LLC lifted its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 37.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,100 shares of the financial services provider's stock after acquiring an additional 300 shares during the period. Viking Fund Management LLC's holdings in Texas Pacific Land were worth $1,162,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of TPL. Vanguard Group Inc. boosted its stake in Texas Pacific Land by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider's stock valued at $3,267,588,000 after purchasing an additional 115,743 shares during the period. GAMMA Investing LLC lifted its position in shares of Texas Pacific Land by 241,048.0% in the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock worth $479,278,000 after acquiring an additional 361,572 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Texas Pacific Land by 2.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 183,485 shares of the financial services provider's stock worth $243,116,000 after acquiring an additional 3,850 shares during the period. Schwartz Investment Counsel Inc. lifted its position in shares of Texas Pacific Land by 0.4% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 150,823 shares of the financial services provider's stock worth $199,839,000 after acquiring an additional 642 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Texas Pacific Land by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 126,347 shares of the financial services provider's stock worth $167,386,000 after acquiring an additional 2,623 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insiders Place Their Bets

In other news, Director Eric L. Oliver acquired 100 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was bought at an average price of $881.27 per share, with a total value of $88,127.00. Following the transaction, the director directly owned 393,600 shares in the company, valued at approximately $346,867,872. The trade was a 0.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 210 shares of company stock valued at $190,205 over the last ninety days. 6.50% of the stock is currently owned by company insiders.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded up $57.54 during midday trading on Tuesday, reaching $934.50. 69,629 shares of the company's stock were exchanged, compared to its average volume of 138,343. The company's 50 day simple moving average is $926.46 and its two-hundred day simple moving average is $1,121.06. The firm has a market capitalization of $21.48 billion, a PE ratio of 46.57 and a beta of 1.19. Texas Pacific Land Corporation has a 12 month low of $845.56 and a 12 month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced 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). Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%. The firm had revenue of $187.54 million for the quarter, compared to the consensus estimate of $198.00 million.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio is 31.90%.

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.