Texas Pacific Land Corporation (NYSE:TPL) Director Eric L. Oliver Purchases 100 Shares

Key Points

• Director Eric L. Oliver of Texas Pacific Land Corporation purchased 100 shares at $915.00 each, increasing his stake to 393,400 shares valued at approximately $359.96 million.
• The company reported earnings per share of $5.05 for the latest quarter, falling short of analysts' expectations by $0.43.
• Texas Pacific Land recently announced a quarterly dividend of $1.60, to be paid on September 16th, representing an annual yield of 0.7%.

Texas Pacific Land Corporation (NYSE:TPL - Get Free Report) Director Eric L. Oliver bought 100 shares of Texas Pacific Land stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average cost of $915.00 per share, for a total transaction of $91,500.00. Following the purchase, the director owned 393,400 shares in the company, valued at $359,961,000. This represents a 0.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Texas Pacific Land Stock Performance

TPL stock traded up $11.60 on Monday, reaching $893.75. The company had a trading volume of 124,255 shares, compared to its average volume of 139,093. Texas Pacific Land Corporation has a 1 year low of $766.51 and a 1 year high of $1,769.14. The company's fifty day moving average is $1,008.33 and its 200 day moving average is $1,202.32. The company has a market cap of $20.54 billion, a P/E ratio of 44.55 and a beta of 1.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $198.00 million.

Texas Pacific Land Announces Dividend

The business 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 $1.60 dividend. 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 is presently 31.90%.

Institutional Investors Weigh In On Texas Pacific Land

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of 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 worth $3,267,588,000 after purchasing an additional 115,743 shares during the period. Geode Capital Management LLC lifted its stake in shares of Texas Pacific Land by 3.9% during the 2nd quarter. Geode Capital Management LLC now owns 605,760 shares of the financial services provider's stock worth $648,866,000 after purchasing an additional 22,796 shares during the period. GAMMA Investing LLC lifted its stake in shares of Texas Pacific Land by 241,048.0% during the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock worth $479,278,000 after purchasing an additional 361,572 shares during the period. Northern Trust Corp lifted its stake in shares of Texas Pacific Land by 21.8% during the 4th quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock worth $248,584,000 after purchasing an additional 40,185 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Texas Pacific Land by 0.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 184,205 shares of the financial services provider's stock worth $194,592,000 after purchasing an additional 720 shares during the period. Hedge funds and other institutional investors own 59.94% 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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