2,400 Shares in Texas Pacific Land Corporation (NYSE:TPL) Bought by Garrett Wealth Advisory Group LLC

Garrett Wealth Advisory Group LLC bought a new stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,400 shares of the financial services provider's stock, valued at approximately $3,180,000. Texas Pacific Land comprises 0.7% of Garrett Wealth Advisory Group LLC's investment portfolio, making the stock its 18th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in Texas Pacific Land by 19.9% during the fourth quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock valued at $44,979,000 after buying an additional 6,747 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Texas Pacific Land by 173.6% during the 4th quarter. Toronto Dominion Bank now owns 6,364 shares of the financial services provider's stock valued at $7,038,000 after acquiring an additional 4,038 shares during the last quarter. Spring Capital Management LLC bought a new position in shares of Texas Pacific Land in the 1st quarter valued at approximately $5,008,000. ProShare Advisors LLC boosted its position in Texas Pacific Land by 347.0% during the fourth quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider's stock worth $4,059,000 after purchasing an additional 2,849 shares during the period. Finally, Golden State Wealth Management LLC grew its holdings in Texas Pacific Land by 110.0% during the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Shares of Texas Pacific Land stock traded down $5.96 on Friday, reaching $1,045.07. The stock had a trading volume of 109,702 shares, compared to its average volume of 147,313. The business's 50-day moving average price is $1,173.20 and its two-hundred day moving average price is $1,260.19. The stock has a market cap of $24.03 billion, a P/E ratio of 52.28 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 announced its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $211.00 million.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $1.60 per share. The ex-dividend date was Monday, June 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.61%. Texas Pacific Land's dividend payout ratio is presently 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.