Texas Pacific Land Corporation (NYSE:TPL) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. trimmed its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 51.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,371 shares of the financial services provider's stock after selling 1,479 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Texas Pacific Land were worth $1,816,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Flower City Capital acquired a new position in shares of Texas Pacific Land in the 1st quarter valued at approximately $485,000. Cross Staff Investments Inc raised its position in shares of Texas Pacific Land by 2.2% in the 1st quarter. Cross Staff Investments Inc now owns 747 shares of the financial services provider's stock valued at $989,000 after purchasing an additional 16 shares in the last quarter. Praxis Investment Management Inc. raised its position in shares of Texas Pacific Land by 32.8% in the 1st quarter. Praxis Investment Management Inc. now owns 770 shares of the financial services provider's stock valued at $1,020,000 after purchasing an additional 190 shares in the last quarter. Marietta Wealth Management LLC raised its position in shares of Texas Pacific Land by 0.8% in the 1st quarter. Marietta Wealth Management LLC now owns 6,100 shares of the financial services provider's stock valued at $8,082,000 after purchasing an additional 50 shares in the last quarter. Finally, Cabot Wealth Management Inc. acquired a new position in shares of Texas Pacific Land in the 1st quarter valued at approximately $497,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Up 0.4%

Shares of TPL traded up $4.02 during trading on Friday, reaching $1,075.97. The company's stock had a trading volume of 56,403 shares, compared to its average volume of 147,245. The company has a fifty day moving average of $1,201.38 and a two-hundred day moving average of $1,264.15. Texas Pacific Land Corporation has a twelve month low of $736.75 and a twelve month high of $1,769.14. The company has a market cap of $24.74 billion, a price-to-earnings ratio of 53.83 and a beta of 1.08.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its 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). The business had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million. Texas Pacific Land had a net margin of 63.24% and a return on equity of 40.04%.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Monday, June 2nd. 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.