Allspring Global Investments Holdings LLC lessened its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 76.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 870 shares of the financial services provider's stock after selling 2,814 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Texas Pacific Land were worth $1,177,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in TPL. JPMorgan Chase & Co. grew its holdings in shares of Texas Pacific Land by 19.9% during the fourth quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock worth $44,979,000 after purchasing an additional 6,747 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Texas Pacific Land by 173.6% during the fourth quarter. Toronto Dominion Bank now owns 6,364 shares of the financial services provider's stock worth $7,038,000 after purchasing an additional 4,038 shares in the last quarter. Spring Capital Management LLC purchased a new position in shares of Texas Pacific Land during the first quarter worth about $5,008,000. ProShare Advisors LLC grew its holdings in shares of Texas Pacific Land by 347.0% during the fourth quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider's stock worth $4,059,000 after purchasing an additional 2,849 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in shares of 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 worth $28,000 after purchasing an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.
Texas Pacific Land Trading Up 1.1%
Shares of NYSE TPL opened at $1,045.63 on Wednesday. Texas Pacific Land Corporation has a 12 month low of $736.75 and a 12 month high of $1,769.14. The firm has a market capitalization of $24.04 billion, a price-to-earnings ratio of 52.31 and a beta of 1.08. The business has a 50-day moving average of $1,189.33 and a 200-day moving average of $1,263.11.
Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its 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). The firm had revenue of $195.98 million during the quarter, compared to analysts' expectations of $211.00 million. Texas Pacific Land had a return on equity of 40.04% and a net margin of 63.24%.
Texas Pacific Land Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Monday, June 2nd. Texas Pacific Land's dividend 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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