Flputnam Investment Management Co. Has $2.82 Million Stake in Texas Pacific Land Corporation $TPL

Flputnam Investment Management Co. raised its stake in Texas Pacific Land Corporation (NYSE:TPL) by 0.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,130 shares of the financial services provider’s stock after buying an additional 15 shares during the quarter. Flputnam Investment Management Co.’s holdings in Texas Pacific Land were worth $2,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TPL. Hemington Wealth Management lifted its stake in Texas Pacific Land by 66.7% in the first 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 during the period. Golden State Wealth Management LLC lifted its stake in Texas Pacific Land by 110.0% in the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider’s stock valued at $28,000 after buying an additional 11 shares during the period. Zions Bancorporation National Association UT acquired a new position in Texas Pacific Land in the first quarter valued at about $28,000. Allworth Financial LP lifted its stake in Texas Pacific Land by 42.1% in the first 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 during the period. Finally, GW&K Investment Management LLC lifted its stake in Texas Pacific Land by 237.5% in the first quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider’s stock valued at $36,000 after buying an additional 19 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 1.4%

NYSE:TPL opened at $935.21 on Tuesday. Texas Pacific Land Corporation has a 1-year low of $766.51 and a 1-year high of $1,769.14. The business’s 50-day moving average price is $968.27 and its two-hundred day moving average price is $1,168.14. The firm has a market capitalization of $21.50 billion, a price-to-earnings ratio of 46.62 and a beta of 1.19.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 EPS for the quarter, missing analysts’ consensus estimates of $5.48 by ($0.43). The business 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given 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 at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver purchased 100 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were bought at an average price of $881.27 per share, with a total value of $88,127.00. Following the completion of the transaction, the director directly owned 393,600 shares in the company, valued at $346,867,872. This trade represents a 0.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 300 shares of company stock worth $289,648 over the last quarter. Company insiders own 6.50% 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.