WBI Investments LLC Buys Shares of 1,140 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 stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,140 shares of the financial services provider's stock, valued at approximately $1,510,000.

Several other institutional investors also recently bought and sold shares of TPL. Cetera Investment Advisers raised its holdings in Texas Pacific Land by 3.2% during the fourth quarter. Cetera Investment Advisers now owns 1,758 shares of the financial services provider's stock valued at $1,945,000 after buying an additional 54 shares in the last quarter. CoreCap Advisors LLC raised its holdings in Texas Pacific Land by 5,700.0% during the fourth quarter. CoreCap Advisors LLC now owns 58 shares of the financial services provider's stock valued at $64,000 after buying an additional 57 shares in the last quarter. Gotham Asset Management LLC grew its position in shares of Texas Pacific Land by 212.9% in the fourth quarter. Gotham Asset Management LLC now owns 5,716 shares of the financial services provider's stock valued at $6,322,000 after purchasing an additional 3,889 shares during the last quarter. Jefferies Financial Group Inc. grew its position in shares of Texas Pacific Land by 55.6% in the fourth quarter. Jefferies Financial Group Inc. now owns 526 shares of the financial services provider's stock valued at $582,000 after purchasing an additional 188 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Texas Pacific Land by 21.3% in the fourth quarter. Janus Henderson Group PLC now owns 1,815 shares of the financial services provider's stock valued at $2,010,000 after purchasing an additional 319 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 acquired at an average cost of $881.27 per share, with a total value of $88,127.00. Following the completion of the transaction, the director directly owned 393,600 shares in the company, valued at $346,867,872. This represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought 260 shares of company stock worth $245,052 over the last 90 days. 6.50% of the stock is owned by company insiders.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL opened at $937.18 on Thursday. The company has a market cap of $21.55 billion, a P/E ratio of 46.72 and a beta of 1.19. The stock's 50-day moving average is $948.22 and its 200-day moving average is $1,148.14. 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 issued 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 business 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $1.60 per share. The ex-dividend date of this dividend 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 (DPR) is 31.90%.

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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