Hsbc Holdings PLC Raises Holdings in Texas Pacific Land Corporation $TPL

Hsbc Holdings PLC grew its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 11.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 28,103 shares of the financial services provider’s stock after buying an additional 2,795 shares during the quarter. Hsbc Holdings PLC’s holdings in Texas Pacific Land were worth $36,924,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in TPL. GAMMA Investing LLC grew its holdings in shares of Texas Pacific Land by 241,048.0% during the first 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 last quarter. Vanguard Group Inc. grew its holdings in shares of Texas Pacific Land by 4.9% during the first 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 last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Texas Pacific Land by 943.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider’s stock worth $133,883,000 after buying an additional 109,455 shares during the last quarter. Nuveen LLC purchased a new position in shares of Texas Pacific Land during the first quarter worth about $68,518,000. Finally, Northern Trust Corp grew its holdings in shares of Texas Pacific Land by 21.8% during the fourth quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider’s stock worth $248,584,000 after buying an additional 40,185 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 3.3%

NYSE TPL opened at $909.2570 on Friday. Texas Pacific Land Corporation has a 52-week low of $766.51 and a 52-week high of $1,769.14. The business’s 50-day moving average price is $987.42 and its 200 day moving average price is $1,189.10. The firm has a market cap of $20.90 billion, a P/E ratio of 45.33 and a beta of 1.14.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $5.48 by ($0.43). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.The company had revenue of $187.54 million for the quarter, compared to analysts’ expectations of $198.00 million.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors 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 dividend on an annualized basis and a dividend yield of 0.7%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 31.90%.

Insider Activity

In related news, Director Eric L. Oliver purchased 100 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were purchased at an average price of $881.27 per share, with a total value of $88,127.00. Following the completion of the acquisition, the director directly owned 393,600 shares in the company, valued at $346,867,872. This represents a 0.03% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought a total of 330 shares of company stock worth $326,165 over the last 90 days. Company insiders own 6.50% of the company’s stock.

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.