5,014 Shares in Texas Pacific Land Corporation (NYSE:TPL) Acquired by KLCM Advisors Inc.

Key Points

• KLCM Advisors Inc. acquired 5,014 shares of Texas Pacific Land Corporation (NYSE:TPL) for about $6.6 million in the first quarter of the year.
• The company recently announced a quarterly dividend of $1.60 per share, representing a yield of 0.7%.
• Texas Pacific Land's stock price increased by 3.1%, with a current market capitalization of $20.32 billion.

KLCM Advisors Inc. acquired a new position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,014 shares of the financial services provider's stock, valued at approximately $6,644,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP increased its position in shares of 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 buying an additional 8 shares during the period. Riversedge Advisors LLC increased its position in shares of Texas Pacific Land by 2.2% during the first quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider's stock valued at $490,000 after buying an additional 8 shares during the period. Hemington Wealth Management increased its position in shares of Texas Pacific Land by 66.7% during 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. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Texas Pacific Land by 13.0% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider's stock valued at $103,000 after buying an additional 9 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Texas Pacific Land by 0.4% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,093 shares of the financial services provider's stock valued at $2,773,000 after buying an additional 9 shares during the period. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Performance

Shares of NYSE TPL traded down $30.02 during midday trading on Friday, hitting $882.53. 185,803 shares of the company traded hands, compared to its average volume of 169,302. Texas Pacific Land Corporation has a 12-month low of $766.51 and a 12-month high of $1,769.14. The stock has a 50-day moving average price of $1,008.33 and a 200 day moving average price of $1,202.94. The firm has a market cap of $20.29 billion, a P/E ratio of 43.99 and a beta of 1.14.

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 analysts' consensus estimates of $5.48 by ($0.43). The business had revenue of $187.54 million during the quarter, compared to analysts' expectations 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 Dividend Announcement

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

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.