Gilbert & Cook Inc. Cuts Stock Position in Texas Pacific Land Corporation (NYSE:TPL)

Gilbert & Cook Inc. cut its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 22.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,633 shares of the financial services provider's stock after selling 741 shares during the quarter. Texas Pacific Land makes up approximately 0.5% of Gilbert & Cook Inc.'s investment portfolio, making the stock its 20th largest holding. Gilbert & Cook Inc.'s holdings in Texas Pacific Land were worth $3,489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Texas Pacific Land by 241,048.0% in the first quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock valued at $479,278,000 after purchasing an additional 361,572 shares during the period. Invesco Ltd. boosted its holdings 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 valued at $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 fourth 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 period. Price T Rowe Associates Inc. MD raised its holdings in shares of Texas Pacific Land by 943.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock worth $133,883,000 after purchasing an additional 109,455 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Texas Pacific Land by 21.8% during the fourth quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock valued at $248,584,000 after purchasing an additional 40,185 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Trading Up 1.0%

TPL traded up $9.89 during midday trading on Friday, hitting $979.33. 182,922 shares of the company were exchanged, compared to its average volume of 146,664. The company's 50 day simple moving average is $1,097.61 and its 200 day simple moving average is $1,247.17. The firm has a market capitalization of $22.51 billion, a price-to-earnings ratio of 48.99 and a beta of 1.08. 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 announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.27 by ($0.03). Texas Pacific Land had a net margin of 63.24% and a return on equity of 40.04%. The company had revenue of $195.98 million for the quarter, compared to analysts' expectations of $211.00 million.

Texas Pacific Land Dividend Announcement

The company 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. This represents a $6.40 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) 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.