WBI Investments LLC Buys New Stake in Texas Pacific Land Corporation $TPL

Key Points

• WBI Investments LLC acquired 1,140 shares of Texas Pacific Land Corporation, valued at approximately $1.51 million, as reported in their recent 13F filing with the SEC.
• Insider Eric L. Oliver purchased 100 shares at an average price of $881.27 per share, increasing his total ownership to 393,600 shares, valued at approximately $346.87 million.
• Texas Pacific Land's recent earnings report showed a missed earnings estimate of $5.05 per share compared to the expected $5.48, with reported revenue of $187.54 million versus an estimate of $198 million.

WBI Investments LLC bought a new position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,140 shares of the financial services provider's stock, valued at approximately $1,510,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Hemington Wealth Management increased its position in shares of Texas Pacific Land by 66.7% during the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 8 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in Texas Pacific Land by 110.0% in the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock worth $28,000 after buying an additional 11 shares during the period. Zions Bancorporation National Association UT purchased a new stake in Texas Pacific Land in the 1st quarter worth approximately $28,000. Allworth Financial LP lifted its holdings in Texas Pacific Land by 42.1% in the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock worth $36,000 after buying an additional 8 shares during the period. Finally, GW&K Investment Management LLC lifted its holdings in Texas Pacific Land by 237.5% in the 1st quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock worth $36,000 after buying an additional 19 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Up 2.1%

Shares of NYSE:TPL traded up $19.58 during trading on Tuesday, hitting $943.10. The stock had a trading volume of 23,879 shares, compared to its average volume of 136,526. Texas Pacific Land Corporation has a 12 month low of $844.70 and a 12 month high of $1,769.14. The company has a market capitalization of $21.68 billion, a PE ratio of 47.00 and a beta of 1.19. The firm's fifty day moving average is $940.54 and its 200 day moving average is $1,136.79.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share 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 company had revenue of $187.54 million for the quarter, compared to analysts' expectations of $198.00 million.

Texas Pacific Land Announces Dividend

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

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were bought at an average price of $881.27 per share, with a total value of $88,127.00. Following the purchase, the director owned 393,600 shares of the company's stock, valued at $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders purchased 240 shares of company stock worth $222,802. 6.50% of the stock is currently owned by company insiders.

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.