Norinchukin Bank The Increases Stock Position in Texas Pacific Land Corporation $TPL

Norinchukin Bank The lifted its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 9.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 724 shares of the financial services provider’s stock after buying an additional 64 shares during the period. Norinchukin Bank The’s holdings in Texas Pacific Land were worth $959,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Toronto Dominion Bank boosted its position in Texas Pacific Land by 173.6% in the 4th quarter. Toronto Dominion Bank now owns 6,364 shares of the financial services provider’s stock valued at $7,038,000 after buying an additional 4,038 shares during the period. Spring Capital Management LLC purchased a new stake in shares of Texas Pacific Land in the 1st quarter worth approximately $5,008,000. ProShare Advisors LLC lifted its position in shares of Texas Pacific Land by 347.0% in the 4th quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider’s stock worth $4,059,000 after purchasing an additional 2,849 shares during the period. AustralianSuper Pty Ltd lifted its position in Texas Pacific Land by 4.8% during the first quarter. AustralianSuper Pty Ltd now owns 8,591 shares of the financial services provider’s stock valued at $11,383,000 after acquiring an additional 391 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its position in Texas Pacific Land by 110.0% during the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 11 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver purchased 100 shares of the firm’s stock in a transaction dated Thursday, August 21st. The shares were purchased at an average cost of $881.27 per share, with a total value of $88,127.00. Following the completion of the purchase, the director owned 393,600 shares in the company, valued at approximately $346,867,872. This represents a 0.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought 330 shares of company stock valued at $326,165 over the last quarter. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land Trading Up 3.3%

Shares of Texas Pacific Land stock opened at $909.2570 on Friday. Texas Pacific Land Corporation has a 12-month low of $766.51 and a 12-month high of $1,769.14. The firm has a market capitalization of $20.90 billion, a price-to-earnings ratio of 45.33 and a beta of 1.14. The firm’s 50 day simple moving average is $987.42 and its two-hundred day simple moving average is $1,187.68.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data 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). The business had revenue of $187.54 million during 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 Announces Dividend

The business also recently disclosed 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. 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 presently 31.90%.

About Texas Pacific Land

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.