Diversify Advisory Services LLC Takes Position in Texas Pacific Land Corporation (NYSE:TPL)

Diversify Advisory Services LLC purchased a new stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 358 shares of the financial services provider's stock, valued at approximately $476,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake 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 purchasing an additional 260,278 shares during the period. Geode Capital Management LLC grew its holdings 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 buying an additional 159,597 shares in the last quarter. GAMMA Investing LLC grew its holdings 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 buying an additional 361,572 shares in the last quarter. Invesco Ltd. grew its holdings 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 buying an additional 200,841 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Texas Pacific Land by 21.8% during the 4th quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock valued at $248,584,000 after buying an additional 40,185 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Price Performance

NYSE TPL opened at $996.79 on Monday. The stock has a market capitalization of $22.91 billion, a PE ratio of 49.86 and a beta of 1.08. The business has a 50 day simple moving average of $1,141.17 and a two-hundred day simple moving average of $1,257.00. Texas Pacific Land Corporation has a 1-year low of $736.75 and a 1-year high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations 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 firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid 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 0.64%. 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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