Hunter Associates Investment Management LLC Has $6.99 Million Holdings in Texas Pacific Land Corporation (NYSE:TPL)

Hunter Associates Investment Management LLC cut its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,277 shares of the financial services provider's stock after selling 414 shares during the quarter. Texas Pacific Land accounts for 1.1% of Hunter Associates Investment Management LLC's portfolio, making the stock its 20th biggest holding. Hunter Associates Investment Management LLC's holdings in Texas Pacific Land were worth $6,991,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. increased its holdings 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 valued at $28,000 after purchasing an additional 13 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Texas Pacific Land by 110.0% in the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after buying an additional 11 shares in the last quarter. Assetmark Inc. acquired a new position in Texas Pacific Land in the 4th quarter worth $29,000. Atala Financial Inc acquired a new position in Texas Pacific Land in the 4th quarter worth $31,000. Finally, Allworth Financial LP boosted its stake in Texas Pacific Land by 42.1% in the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock worth $36,000 after purchasing an additional 8 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Trading Down 0.6%

Shares of Texas Pacific Land stock traded down $5.96 during trading hours on Friday, reaching $1,045.07. 109,702 shares of the company's stock were exchanged, compared to its average volume of 147,464. The company has a 50 day moving average of $1,173.20 and a two-hundred day moving average of $1,261.53. Texas Pacific Land Corporation has a fifty-two week low of $736.75 and a fifty-two week high of $1,769.14. 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 (NYSE:TPL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 EPS 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 business had revenue of $195.98 million for 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. Investors 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 yield of 0.61%. Texas Pacific Land's dividend payout ratio (DPR) is currently 32.02%.

About Texas Pacific Land

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.