Texas Pacific Land Corporation (NYSE:TPL) Shares Sold by Commerce Bank

Key Points

• Commerce Bank reduced its stake in Texas Pacific Land Corporation by 11.7%, now holding 2,553 shares valued at approximately $3.38 million.
• Texas Pacific Land's stock price reached $949.76, with a market capitalization of $21.83 billion and a price-to-earnings ratio of 47.51.
• The company announced a quarterly dividend of $1.60, representing an annual yield of 0.7% and a payout ratio of 32.02%.

Commerce Bank decreased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,553 shares of the financial services provider's stock after selling 337 shares during the quarter. Commerce Bank's holdings in Texas Pacific Land were worth $3,383,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Texas Pacific Land by 241,048.0% in 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 in the last quarter. Invesco Ltd. increased its stake in shares of Texas Pacific Land by 203.4% during the fourth 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. Price T Rowe Associates Inc. MD raised its holdings 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 purchasing an additional 109,455 shares during the period. Northern Trust Corp increased its stake in Texas Pacific Land by 21.8% in the 4th 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 period. Finally, Raymond James Financial Inc. purchased a new position in Texas Pacific Land during the 4th quarter worth approximately $41,303,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Trading Down 8.4%

NYSE TPL traded down $80.32 on Thursday, hitting $870.30. 246,311 shares of the stock traded hands, compared to its average volume of 137,934. Texas Pacific Land Corporation has a twelve month low of $752.70 and a twelve month high of $1,769.14. The company has a market capitalization of $20.01 billion, a P/E ratio of 43.54 and a beta of 1.14. The stock has a 50-day moving average of $1,043.20 and a 200 day moving average of $1,226.90.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 EPS for the quarter, missing analysts' consensus estimates of $5.48 by ($0.43). The business had revenue of $187.54 million for the quarter, compared to analyst estimates of $198.00 million. Texas Pacific Land had a return on equity of 40.04% and a net margin of 63.24%.

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.