Cerity Partners LLC Purchases 857 Shares of Texas Pacific Land Corporation (NYSE:TPL)

Cerity Partners LLC raised its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 8.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,983 shares of the financial services provider's stock after buying an additional 857 shares during the period. Cerity Partners LLC's holdings in Texas Pacific Land were worth $14,552,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Texas Pacific Land by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock worth $2,599,426,000 after acquiring an additional 260,278 shares during the last quarter. Geode Capital Management LLC lifted its position in Texas Pacific Land by 34.5% during 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 acquiring an additional 159,597 shares during the period. GAMMA Investing LLC lifted its position in Texas Pacific Land by 241,048.0% during the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock valued at $479,278,000 after acquiring an additional 361,572 shares during the period. Invesco Ltd. lifted its position in Texas Pacific Land by 203.4% during the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock valued at $331,321,000 after acquiring an additional 200,841 shares during the period. Finally, Northern Trust Corp raised its holdings in Texas Pacific Land by 21.8% in the fourth quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock worth $248,584,000 after buying an additional 40,185 shares during the last quarter. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Shares of Texas Pacific Land stock opened at $1,045.07 on Monday. The stock has a market capitalization of $24.03 billion, a PE ratio of 52.28 and a beta of 1.08. 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 50-day simple moving average of $1,173.20 and a two-hundred day simple moving average of $1,261.53.

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

Texas Pacific Land Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Monday, June 2nd. This represents a $6.40 annualized dividend and a yield of 0.61%. Texas Pacific Land's dividend payout ratio (DPR) 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.

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