Douglass Winthrop Advisors LLC Purchases 33 Shares of Texas Pacific Land Corporation $TPL

Douglass Winthrop Advisors LLC grew its position in Texas Pacific Land Corporation (NYSE:TPL) by 0.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 99,490 shares of the financial services provider’s stock after buying an additional 33 shares during the period. Texas Pacific Land accounts for about 2.5% of Douglass Winthrop Advisors LLC’s portfolio, making the stock its 14th largest position. Douglass Winthrop Advisors LLC’s holdings in Texas Pacific Land were worth $131,823,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Riversedge Advisors LLC boosted its holdings in shares of Texas Pacific Land by 2.2% in the 1st quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider’s stock valued at $490,000 after buying an additional 8 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Texas Pacific Land by 42.1% in the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider’s stock valued at $36,000 after buying an additional 8 shares in the last quarter. Hemington Wealth Management boosted its holdings in shares of Texas Pacific Land by 66.7% in the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider’s stock valued at $26,000 after buying an additional 8 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Texas Pacific Land by 13.0% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider’s stock valued at $103,000 after buying an additional 9 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Texas Pacific Land by 0.4% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,093 shares of the financial services provider’s stock valued at $2,773,000 after buying an additional 9 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $909.2570 on Friday. Texas Pacific Land Corporation has a fifty-two week low of $766.51 and a fifty-two week high of $1,769.14. The stock has a market capitalization of $20.90 billion, a P/E ratio of 45.33 and a beta of 1.14. The company’s 50-day simple moving average is $987.42 and its 200-day simple moving average is $1,189.10.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share 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 firm had revenue of $187.54 million during the quarter, compared to the consensus estimate of $198.00 million.

Texas Pacific Land Dividend Announcement

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 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%.

Insider Buying and Selling

In related news, Director Eric L. Oliver bought 100 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was bought at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the purchase, the director directly owned 393,600 shares of the company’s stock, valued at approximately $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 330 shares of company stock valued at $326,165. 6.50% of the stock is 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.