Bridgewater Advisors Inc. Purchases Shares of 424 Texas Pacific Land Corporation (NYSE:TPL)

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

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Texas Pacific Land by 241,048.0% during the first quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock valued at $479,278,000 after buying an additional 361,572 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Texas Pacific Land by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after buying an additional 260,278 shares in the last quarter. Invesco Ltd. boosted its position in Texas Pacific Land by 203.4% in the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock valued at $331,321,000 after buying an additional 200,841 shares during the period. Geode Capital Management LLC boosted its position in Texas Pacific Land by 34.5% in the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock valued at $693,023,000 after buying an additional 159,597 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Texas Pacific Land by 943.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock worth $133,883,000 after acquiring an additional 109,455 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Trading Up 1.5%

Shares of Texas Pacific Land stock traded up $14.70 on Thursday, hitting $1,001.36. 64,606 shares of the company traded hands, compared to its average volume of 147,541. Texas Pacific Land Corporation has a 52 week low of $736.75 and a 52 week high of $1,769.14. The company has a market cap of $23.02 billion, a PE ratio of 50.09 and a beta of 1.08. The stock's 50 day moving average price is $1,153.22 and its 200-day moving average price is $1,256.96.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $211.00 million.

Texas Pacific Land Announces Dividend

The firm also recently disclosed 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 0.64%. Texas Pacific Land's dividend payout ratio is presently 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.