Gateway Investment Advisers LLC Makes New $554,000 Investment in Texas Pacific Land Co. (NYSE:TPL)

Gateway Investment Advisers LLC bought a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 418 shares of the financial services provider's stock, valued at approximately $554,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in Texas Pacific Land by 19.9% in the fourth quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock valued at $44,979,000 after purchasing an additional 6,747 shares during the period. Fisher Asset Management LLC purchased a new position in Texas Pacific Land in the fourth quarter valued at $380,000. Toronto Dominion Bank boosted its holdings in Texas Pacific Land by 173.6% in the fourth quarter. Toronto Dominion Bank now owns 6,364 shares of the financial services provider's stock valued at $7,038,000 after purchasing an additional 4,038 shares during the period. Spring Capital Management LLC purchased a new position in Texas Pacific Land in the first quarter valued at $5,008,000. Finally, ProShare Advisors LLC boosted its holdings in Texas Pacific Land by 347.0% in the fourth quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider's stock valued at $4,059,000 after purchasing an additional 2,849 shares during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Up 1.9%

NYSE:TPL traded up $20.72 during midday trading on Friday, reaching $1,118.22. The company had a trading volume of 148,403 shares, compared to its average volume of 157,610. The firm has a market capitalization of $25.70 billion, a price-to-earnings ratio of 56.71 and a beta of 1.12. The stock's fifty day simple moving average is $1,260.93 and its 200-day simple moving average is $1,295.00. Texas Pacific Land Co. has a 12-month low of $724.75 and a 12-month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.27 by ($0.03). The company had revenue of $195.98 million during the quarter, compared to analysts' expectations of $211.00 million. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 32.02%.

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.