Texas Pacific Land Corporation (NYSE:TPL) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. decreased its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 62.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,147 shares of the financial services provider's stock after selling 5,266 shares during the period. Bridges Investment Management Inc.'s holdings in Texas Pacific Land were worth $4,170,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TPL. Bessemer Group Inc. increased its holdings in shares of 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. Golden State Wealth Management LLC lifted its stake in shares of Texas Pacific Land by 110.0% during the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after buying an additional 11 shares in the last quarter. Assetmark Inc. bought a new position in Texas Pacific Land in the 4th quarter worth approximately $29,000. Atala Financial Inc bought a new stake in shares of Texas Pacific Land in the fourth quarter worth about $31,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Texas Pacific Land by 175.0% during the first 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 in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

Shares of NYSE:TPL traded down $0.73 during trading on Wednesday, hitting $1,045.74. The company had a trading volume of 89,802 shares, compared to its average volume of 147,201. Texas Pacific Land Corporation has a one year low of $736.75 and a one year high of $1,769.14. The stock has a market cap of $24.04 billion, a price-to-earnings ratio of 52.31 and a beta of 1.08. The company has a fifty day simple moving average of $1,189.33 and a two-hundred day simple moving average of $1,263.11.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly 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 company 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 firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid 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 dividend yield of 0.61%. Texas Pacific Land's payout ratio 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.