Bank of New York Mellon Corp Has $196.39 Million Holdings in Texas Pacific Land Corporation (NYSE:TPL)

Bank of New York Mellon Corp reduced its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,216 shares of the financial services provider's stock after selling 673 shares during the quarter. Bank of New York Mellon Corp owned about 0.64% of Texas Pacific Land worth $196,385,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TPL. Jones Financial Companies Lllp lifted its position in Texas Pacific Land by 2,575.0% during the 4th quarter. Jones Financial Companies Lllp now owns 107 shares of the financial services provider's stock worth $118,000 after acquiring an additional 103 shares during the period. Assetmark Inc. acquired a new position in Texas Pacific Land during the fourth quarter worth $29,000. M&T Bank Corp raised its stake in shares of Texas Pacific Land by 2.1% in the fourth quarter. M&T Bank Corp now owns 941 shares of the financial services provider's stock valued at $1,041,000 after acquiring an additional 19 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Texas Pacific Land in the fourth quarter valued at $31,802,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Texas Pacific Land during the fourth quarter worth about $41,303,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

NYSE:TPL traded down $9.73 during mid-day trading on Wednesday, reaching $1,036.74. The stock had a trading volume of 9,096 shares, compared to its average volume of 146,743. The firm has a market capitalization of $23.83 billion, a price-to-earnings ratio of 51.89 and a beta of 1.08. Texas Pacific Land Corporation has a twelve month low of $736.75 and a twelve month high of $1,769.14. The business has a 50 day simple moving average of $1,189.33 and a 200 day simple moving average of $1,263.11.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.62%. The ex-dividend date was Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 32.02%.

Texas Pacific Land 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.