Citigroup Inc. Purchases 1,589 Shares of Texas Pacific Land Corporation (NYSE:TPL)

Citigroup Inc. boosted its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 10.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,369 shares of the financial services provider's stock after buying an additional 1,589 shares during the period. Citigroup Inc. owned approximately 0.08% of Texas Pacific Land worth $23,014,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Hemington Wealth Management raised its position in Texas Pacific Land by 66.7% during the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 8 shares in the last quarter. Golden State Wealth Management LLC raised its position in Texas Pacific Land by 110.0% during the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 11 shares in the last quarter. Bessemer Group Inc. raised its position in 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 purchasing an additional 13 shares in the last quarter. Allworth Financial LP raised its position in Texas Pacific Land by 42.1% during the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 8 shares in the last quarter. Finally, GW&K Investment Management LLC increased its holdings in shares of Texas Pacific Land by 237.5% in the first quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock worth $36,000 after buying an additional 19 shares during the period. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Down 3.3%

Shares of NYSE TPL traded down $30.02 during midday trading on Friday, reaching $882.53. The company had a trading volume of 185,803 shares, compared to its average volume of 169,302. Texas Pacific Land Corporation has a one year low of $766.51 and a one year high of $1,769.14. The firm's fifty day moving average price is $1,008.33 and its 200-day moving average price is $1,202.94. The stock has a market cap of $20.29 billion, a PE ratio of 43.99 and a beta of 1.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing analysts' consensus estimates of $5.48 by ($0.43). The company had revenue of $187.54 million for the quarter, compared to analysts' expectations of $198.00 million. Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio is 31.90%.

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.