Edgestream Partners L.P. Makes New Investment in Texas Pacific Land Corporation (NYSE:TPL)

Edgestream Partners L.P. bought a new position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,297 shares of the financial services provider's stock, valued at approximately $4,368,000.

A number of other institutional investors also recently modified their holdings of TPL. Avantax Advisory Services Inc. raised its stake in shares of Texas Pacific Land by 3.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 1,258 shares of the financial services provider's stock worth $1,391,000 after acquiring an additional 39 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Texas Pacific Land in the fourth quarter valued at approximately $452,000. Envestnet Portfolio Solutions Inc. bought a new stake in Texas Pacific Land in the fourth quarter valued at approximately $424,000. Cibc World Markets Corp increased its stake in Texas Pacific Land by 163.3% in the fourth quarter. Cibc World Markets Corp now owns 2,999 shares of the financial services provider's stock valued at $3,317,000 after purchasing an additional 1,860 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Texas Pacific Land by 11.1% in the fourth quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock valued at $111,000 after purchasing an additional 10 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Price Performance

TPL stock traded up $4.57 during trading hours on Friday, reaching $996.79. The stock had a trading volume of 137,925 shares, compared to its average volume of 148,129. The stock has a market capitalization of $22.92 billion, a PE ratio of 49.86 and a beta of 1.08. The stock has a 50-day simple moving average of $1,141.17 and a 200 day simple moving average of $1,255.43. Texas Pacific Land Corporation has a fifty-two week low of $736.75 and a fifty-two week high of $1,769.14.

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

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued 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 payout ratio is 32.02%.

Texas Pacific Land 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.