Headlands Technologies LLC Sells 395 Shares of Texas Pacific Land Corporation (NYSE:TPL)

Key Points

• Headlands Technologies LLC has reduced its stake in Texas Pacific Land Corporation by **79.2%**, now holding **104 shares** valued at **$138,000** following the sale of **395 shares**.
• Texas Pacific Land recently reported quarterly earnings with an **EPS of $5.05**, falling short of analysts' expectations of **$5.48**, and **revenue** of **$187.54 million** against a forecast of **$198 million**.
• The company announced a **quarterly dividend** of **$1.60** per share, resulting in an annualized dividend of **$6.40** and a dividend yield of **0.7%**.

Headlands Technologies LLC trimmed its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 79.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104 shares of the financial services provider's stock after selling 395 shares during the quarter. Headlands Technologies LLC's holdings in Texas Pacific Land were worth $138,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TPL. Allworth Financial LP lifted its stake in shares of Texas Pacific Land by 42.1% in the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after buying an additional 8 shares in the last quarter. Riversedge Advisors LLC lifted its stake in shares of Texas Pacific Land by 2.2% in the first quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider's stock valued at $490,000 after buying an additional 8 shares in the last quarter. Hemington Wealth Management lifted its stake in shares of Texas Pacific Land by 66.7% in the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after buying an additional 8 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Texas Pacific Land by 13.0% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider's stock valued at $103,000 after buying an additional 9 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Texas Pacific Land by 0.4% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,093 shares of the financial services provider's stock valued at $2,773,000 after buying an additional 9 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of Texas Pacific Land stock traded down $30.02 during trading hours on Friday, reaching $882.53. The company's stock had a trading volume of 185,803 shares, compared to its average volume of 169,302. Texas Pacific Land Corporation has a one year low of $766.51 and a one year high of $1,769.14. The company has a market capitalization of $20.29 billion, a P/E ratio of 43.99 and a beta of 1.14. The stock's fifty day simple moving average is $1,008.33 and its two-hundred day simple moving average is $1,203.42.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing the consensus estimate of $5.48 by ($0.43). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%. The firm had revenue of $187.54 million for the quarter, compared to analysts' expectations of $198.00 million.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a dividend of $1.60 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $6.40 annualized dividend and a yield of 0.7%. Texas Pacific Land's payout ratio is 31.90%.

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.