Bridgewater Advisors Inc. Purchases New Shares in Texas Pacific Land Corporation (NYSE:TPL)

Bridgewater Advisors Inc. acquired a new stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 424 shares of the financial services provider's stock, valued at approximately $564,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its holdings in Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after acquiring an additional 13 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in 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 worth $28,000 after acquiring an additional 11 shares in the last quarter. Allworth Financial LP grew its holdings in Texas Pacific Land by 42.1% during the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock worth $36,000 after acquiring an additional 8 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Texas Pacific Land by 175.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 33 shares of the financial services provider's stock worth $44,000 after acquiring an additional 21 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its holdings in Texas Pacific Land by 45.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock worth $53,000 after acquiring an additional 15 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Price Performance

Shares of NYSE:TPL traded up $4.57 during trading on Friday, hitting $996.79. 137,925 shares of the company were exchanged, compared to its average volume of 148,129. The stock has a market capitalization of $22.92 billion, a P/E ratio of 49.86 and a beta of 1.08. Texas Pacific Land Corporation has a 12-month low of $736.75 and a 12-month high of $1,769.14. The firm's 50 day moving average price is $1,141.17 and its 200-day moving average price is $1,255.43.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.27 by ($0.03). The company had revenue of $195.98 million for 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 business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $1.60 per share. The ex-dividend date was Monday, June 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.64%. Texas Pacific Land's dividend payout ratio is presently 32.02%.

About Texas Pacific Land

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.