Insider Buying: Texas Pacific Land (NYSE:TPL) Director Acquires 100 Shares of Stock

Texas Pacific Land Corporation (NYSE:TPL) Director Eric Oliver purchased 100 shares at $881.27 each, totaling $88,127, increasing his ownership by 0.03% to 393,600 shares valued at approximately $346.87 million. The transaction was disclosed to the SEC. The stock opened at $909.26, with a market cap of $20.90 billion. The company reported Q2 earnings of $5.05 per share, missing estimates, and announced a quarterly dividend of $1.60 per share, payable on September 16. Institutional investors own 59.94% of the stock.

Texas Pacific Land Corporation (NYSE:TPL - Get Free Report) Director Eric Oliver purchased 100 shares of Texas Pacific Land stock in a transaction that occurred on Thursday, August 21st. The stock was purchased at an average price of $881.27 per share, with a total value of $88,127.00. Following the completion of the purchase, the director directly owned 393,600 shares in the company, valued at $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Texas Pacific Land Price Performance

3 Cash Cow Stocks Leading Their Sectors in Free Cash Flow Margins

Shares of NYSE TPL opened at $909.2570 on Friday. The stock has a market capitalization of $20.90 billion, a PE ratio of 45.33 and a beta of 1.14. The business has a fifty day moving average price of $987.42 and a two-hundred day moving average price of $1,189.10. Texas Pacific Land Corporation has a fifty-two week low of $766.51 and a fifty-two week high of $1,769.14.

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

Texas Pacific Land Announces Dividend

Texas Pacific Land: Permian Basin Powerhouse With an AI Edge

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio is currently 31.90%.

Hedge Funds Weigh In On Texas Pacific Land

A number of institutional investors and hedge funds have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. acquired a new position in Texas Pacific Land in the 2nd quarter worth about $1,726,000. Advisory Services Network LLC increased its holdings in Texas Pacific Land by 346.7% in the 2nd quarter. Advisory Services Network LLC now owns 21,202 shares of the financial services provider's stock worth $20,526,000 after purchasing an additional 16,456 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Texas Pacific Land in the 2nd quarter worth about $2,211,000. Caxton Associates LLP increased its holdings in 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 worth $4,980,000 after purchasing an additional 4,440 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in 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 worth $782,000 after purchasing an additional 198 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

About Texas Pacific Land

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Can Texas Pacific Land Corp. Continue its Meteoric Rise?

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.