Texas Pacific Land Corporation (NYSE:TPL) Shares Purchased by IFM Investors Pty Ltd

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

Several other hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in Texas Pacific Land by 19.9% during the fourth quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock valued at $44,979,000 after acquiring an additional 6,747 shares in the last quarter. Toronto Dominion Bank boosted its position in Texas Pacific Land by 173.6% during the 4th quarter. Toronto Dominion Bank now owns 6,364 shares of the financial services provider's stock valued at $7,038,000 after buying an additional 4,038 shares during the period. Fisher Asset Management LLC purchased a new stake in Texas Pacific Land during the 4th quarter valued at $380,000. Spring Capital Management LLC purchased a new stake in Texas Pacific Land during the 1st quarter valued at $5,008,000. Finally, ProShare Advisors LLC boosted its position in Texas Pacific Land by 347.0% during the 4th quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider's stock valued at $4,059,000 after buying an additional 2,849 shares during the period. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Up 0.4%

Texas Pacific Land stock traded up $4.48 during trading hours on Wednesday, hitting $1,050.95. The stock had a trading volume of 59,784 shares, compared to its average volume of 146,976. The stock has a market capitalization of $24.16 billion, a P/E ratio of 52.57 and a beta of 1.08. Texas Pacific Land Corporation has a 12-month low of $736.75 and a 12-month high of $1,769.14. The stock's 50-day moving average price is $1,189.33 and its 200-day moving average price is $1,263.11.

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 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 company had revenue of $195.98 million during the quarter, compared to the consensus estimate of $211.00 million.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 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.