IFM Investors Pty Ltd Acquires 467 Shares of Texas Pacific Land Corporation (NYSE:TPL)

IFM Investors Pty Ltd grew its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,082 shares of the financial services provider's stock after purchasing an additional 467 shares during the quarter. IFM Investors Pty Ltd's holdings in Texas Pacific Land were worth $6,734,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. grew its holdings in Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after acquiring an additional 13 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Texas Pacific Land by 110.0% during the 1st 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 in the last quarter. Assetmark Inc. bought a new stake in shares of Texas Pacific Land during the 4th quarter valued at about $29,000. Atala Financial Inc acquired a new stake in Texas Pacific Land during the fourth quarter worth approximately $31,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Texas Pacific Land by 175.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 33 shares of the financial services provider's stock worth $44,000 after purchasing an additional 21 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Down 4.0%

TPL traded down $42.78 during trading on Monday, hitting $1,033.19. The company's stock had a trading volume of 117,054 shares, compared to its average volume of 147,124. The firm has a market capitalization of $23.75 billion, a P/E ratio of 51.69 and a beta of 1.08. Texas Pacific Land Corporation has a twelve month low of $736.75 and a twelve month high of $1,769.14. The stock's fifty day moving average price is $1,201.38 and its 200-day moving average price is $1,265.32.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate 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 paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is currently 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.