Fifth Third Bancorp Sells 40 Shares of Texas Pacific Land Corporation $TPL

Fifth Third Bancorp lowered its position in Texas Pacific Land Corporation (NYSE:TPL) by 18.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 182 shares of the financial services provider’s stock after selling 40 shares during the quarter. Fifth Third Bancorp’s holdings in Texas Pacific Land were worth $192,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hemington Wealth Management lifted its holdings in Texas Pacific Land by 66.7% during the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider’s stock worth $26,000 after buying an additional 8 shares during the period. Golden State Wealth Management LLC raised its stake in Texas Pacific Land by 110.0% in the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 11 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in Texas Pacific Land during the 1st quarter worth about $28,000. Allworth Financial LP grew its position in Texas Pacific Land by 42.1% during the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 8 shares during the period. Finally, GW&K Investment Management LLC grew its position in Texas Pacific Land by 237.5% during the 1st quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 19 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 1.4%

NYSE:TPL opened at $933.22 on Wednesday. Texas Pacific Land Corporation has a 52 week low of $845.56 and a 52 week high of $1,769.14. The stock has a market capitalization of $21.45 billion, a PE ratio of 46.52 and a beta of 1.19. The stock’s 50-day moving average price is $921.19 and its 200-day moving average price is $1,106.46.

Texas Pacific Land (NYSE:TPL) last posted its 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). Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%. The business had revenue of $187.54 million for the quarter, compared to analyst estimates of $198.00 million.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $1.60 dividend. The ex-dividend date of this dividend was 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 currently 31.90%.

Insiders Place Their Bets

In related news, Director Eric L. Oliver purchased 100 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director owned 393,600 shares of the company’s stock, valued at $346,867,872. This represents a 0.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.