Texas Pacific Land (NYSE:TPL) Director Acquires $91,500.00 in Stock

Texas Pacific Land Corporation (NYSE:TPL) Director Eric Oliver acquired 100 shares of Texas Pacific Land stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average price of $915.00 per share, for a total transaction of $91,500.00. Following the transaction, the director directly owned 393,400 shares in the company, valued at $359,961,000. The trade was a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Texas Pacific Land Stock Down 0.7%

Shares of TPL stock opened at $895.6940 on Thursday. The firm has a market capitalization of $20.59 billion, a P/E ratio of 44.65 and a beta of 1.14. Texas Pacific Land Corporation has a twelve month low of $766.51 and a twelve month high of $1,769.14. The stock’s fifty day simple moving average is $996.01 and its 200 day simple moving average is $1,195.34.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 EPS for the quarter, missing the consensus estimate of $5.48 by ($0.43). The company had revenue of $187.54 million for the quarter, compared to analyst estimates of $198.00 million. Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $1.60 per share. 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 payout ratio is presently 31.90%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. acquired a new position in Texas Pacific Land during the 2nd quarter worth about $1,726,000. Advisory Services Network LLC lifted its holdings in Texas Pacific Land by 346.7% during the 2nd quarter. Advisory Services Network LLC now owns 21,202 shares of the financial services provider’s stock worth $20,526,000 after buying an additional 16,456 shares during the period. Nomura Holdings Inc. acquired a new position in shares of Texas Pacific Land in the 2nd quarter valued at about $2,211,000. Caxton Associates LLP lifted its stake in shares of Texas Pacific Land by 1,620.4% in the 2nd quarter. Caxton Associates LLP now owns 4,714 shares of the financial services provider’s stock valued at $4,980,000 after purchasing an additional 4,440 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Texas Pacific Land by 36.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 740 shares of the financial services provider’s stock valued at $782,000 after purchasing an additional 198 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

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.