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

Edgestream Partners L.P. acquired a new stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,297 shares of the financial services provider's stock, valued at approximately $4,368,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of 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 worth $479,278,000 after acquiring an additional 361,572 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of 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. Invesco Ltd. increased its stake in shares of Texas Pacific Land by 203.4% in the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after acquiring an additional 200,841 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Texas Pacific Land by 34.5% in the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after acquiring an additional 159,597 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of 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 acquiring an additional 109,455 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of NYSE:TPL traded up $13.01 during midday trading on Friday, reaching $1,005.23. 43,028 shares of the company's stock were exchanged, compared to its average volume of 133,649. The firm's 50 day simple moving average is $1,147.29 and its two-hundred day simple moving average is $1,256.18. The stock has a market cap of $23.11 billion, a price-to-earnings ratio of 50.27 and a beta of 1.08. 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 issued 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 analyst estimates of $211.00 million. Texas Pacific Land had a return on equity of 40.04% and a net margin of 63.24%.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) 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.