Shufro Rose & Co. LLC acquired a new position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,138 shares of the financial services provider's stock, valued at approximately $4,158,000.
Other large investors also recently modified their holdings of the company. Bessemer Group Inc. grew its holdings in shares of Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after acquiring an additional 13 shares during the period. Golden State Wealth Management LLC grew its holdings 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 purchasing an additional 11 shares during the period. Allworth Financial LP grew its holdings in Texas Pacific Land by 42.1% during the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 8 shares during the period. GW&K Investment Management LLC grew its holdings in Texas Pacific Land by 237.5% during the first quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 19 shares during the period. Finally, IMA Advisory Services Inc. bought a new stake in Texas Pacific Land during the first quarter valued at about $36,000. Institutional investors own 59.94% of the company's stock.
Texas Pacific Land Stock Performance
NYSE:TPL opened at $967.64 on Friday. The stock has a 50-day simple moving average of $1,067.53 and a two-hundred day simple moving average of $1,238.69. Texas Pacific Land Corporation has a 52-week low of $736.75 and a 52-week high of $1,769.14. The firm has a market capitalization of $22.25 billion, a PE ratio of 48.41 and a beta of 1.08.
Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.27 by ($0.03). Texas Pacific Land had a net margin of 63.24% and a return on equity of 40.04%. The company had revenue of $195.98 million for the quarter, compared to the consensus estimate of $211.00 million.
Texas Pacific Land Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were 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 was Monday, June 2nd. Texas Pacific Land's payout ratio is currently 32.02%.
Texas Pacific Land Profile
(
Free Report)
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.
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