Blue Trust Inc. Boosts Position in Texas Pacific Land Corporation (NYSE:TPL)

Blue Trust Inc. grew its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 7.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,781 shares of the financial services provider's stock after acquiring an additional 1,900 shares during the period. Blue Trust Inc. owned about 0.13% of Texas Pacific Land worth $38,135,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Bessemer Group Inc. raised its position in Texas Pacific Land by 108.3% during the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 13 shares in the last quarter. Assetmark Inc. acquired a new stake in shares of Texas Pacific Land during the 4th quarter worth approximately $29,000. Atala Financial Inc purchased a new position in shares of Texas Pacific Land during the 4th quarter valued at approximately $31,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Texas Pacific Land by 175.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 33 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 21 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Texas Pacific Land by 213.3% during the first quarter. Versant Capital Management Inc now owns 47 shares of the financial services provider's stock worth $62,000 after buying an additional 32 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

TPL stock opened at $1,079.75 on Thursday. Texas Pacific Land Corporation has a one year low of $724.75 and a one year high of $1,769.14. The firm's fifty day moving average is $1,252.85 and its 200 day moving average is $1,283.85. The firm has a market cap of $24.82 billion, a PE ratio of 54.01 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted 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). Texas Pacific Land had a return on equity of 40.04% and a net margin of 63.24%. The firm had revenue of $195.98 million for the quarter, compared to analysts' expectations of $211.00 million.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.59%. Texas Pacific Land's dividend payout ratio is currently 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.

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