Hunter Associates Investment Management LLC Sells 414 Shares of Texas Pacific Land Corporation (NYSE:TPL)

Hunter Associates Investment Management LLC lowered its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 7.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,277 shares of the financial services provider's stock after selling 414 shares during the quarter. Texas Pacific Land comprises approximately 1.1% of Hunter Associates Investment Management LLC's holdings, making the stock its 20th largest holding. Hunter Associates Investment Management LLC's holdings in Texas Pacific Land were worth $6,991,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP boosted its stake in Texas Pacific Land by 42.1% during the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock worth $36,000 after buying an additional 8 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Texas Pacific Land by 21.2% during the first quarter. Nisa Investment Advisors LLC now owns 2,152 shares of the financial services provider's stock worth $2,851,000 after buying an additional 377 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Texas Pacific Land by 5.5% during the first quarter. Linden Thomas Advisory Services LLC now owns 2,020 shares of the financial services provider's stock worth $2,676,000 after buying an additional 106 shares in the last quarter. Greenleaf Trust boosted its stake in Texas Pacific Land by 21.3% during the first quarter. Greenleaf Trust now owns 222 shares of the financial services provider's stock worth $294,000 after buying an additional 39 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Texas Pacific Land by 2.6% during the first quarter. M&T Bank Corp now owns 965 shares of the financial services provider's stock worth $1,278,000 after buying an additional 24 shares in the last quarter. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded up $0.09 on Friday, hitting $1,051.12. The stock had a trading volume of 53,024 shares, compared to its average volume of 133,173. Texas Pacific Land Corporation has a twelve month low of $736.75 and a twelve month high of $1,769.14. The firm's 50 day moving average price is $1,179.29 and its 200-day moving average price is $1,260.99. The company has a market capitalization of $24.16 billion, a price-to-earnings ratio of 52.58 and a beta of 1.08.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued 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 net margin of 63.24% and a return on equity of 40.04%. The firm had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $1.60 dividend. The ex-dividend date of this dividend 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 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.