Exchange Traded Concepts LLC Sells 325 Shares of Texas Pacific Land Corporation (NYSE:TPL)

Exchange Traded Concepts LLC lowered its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 37.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 545 shares of the financial services provider's stock after selling 325 shares during the period. Exchange Traded Concepts LLC's holdings in Texas Pacific Land were worth $722,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. increased its position in shares of Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after purchasing an additional 13 shares during the period. Assetmark Inc. bought a new stake in shares of Texas Pacific Land during the fourth quarter worth about $29,000. Atala Financial Inc bought a new stake in shares of Texas Pacific Land during the fourth quarter worth about $31,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Texas Pacific Land by 175.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 33 shares of the financial services provider's stock worth $44,000 after purchasing an additional 21 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Texas Pacific Land by 213.3% in the first quarter. Versant Capital Management Inc now owns 47 shares of the financial services provider's stock worth $62,000 after acquiring an additional 32 shares during the period. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $1,082.23 on Friday. Texas Pacific Land Corporation has a one year low of $724.75 and a one year high of $1,769.14. The stock's 50 day moving average is $1,247.78 and its 200 day moving average is $1,277.59. The firm has a market cap of $24.88 billion, a P/E ratio of 54.14 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share 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 Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $6.40 annualized dividend and a yield of 0.59%. Texas Pacific Land's dividend payout ratio (DPR) is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.