Invesco Ltd. Has $387.54 Million Holdings in Texas Pacific Land Corporation (NYSE:TPL)

Key Points

• Invesco Ltd. reduced its stake in Texas Pacific Land Corporation by 2.4%, holding approximately 292,487 shares worth about $387.5 million after selling 7,091 shares in the first quarter.
• Other institutional investors, such as Hemington Wealth Management and Bessemer Group Inc., have increased their positions in Texas Pacific Land, indicating growing interest among institutional stakeholders.
• The company reported earnings of $5.05 per share, missing analysts' expectations, while announcing a quarterly dividend of $1.60 to be paid on September 16th.

Invesco Ltd. reduced its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,487 shares of the financial services provider's stock after selling 7,091 shares during the period. Invesco Ltd. owned 1.27% of Texas Pacific Land worth $387,542,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Texas Pacific Land in the fourth quarter worth about $41,303,000. Bessemer Group Inc. increased its stake in Texas Pacific Land by 108.3% during the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 13 shares during the period. Townsquare Capital LLC increased its stake in Texas Pacific Land by 44.3% during the fourth quarter. Townsquare Capital LLC now owns 430 shares of the financial services provider's stock valued at $476,000 after acquiring an additional 132 shares during the period. Barclays PLC increased its stake in Texas Pacific Land by 73.6% during the fourth quarter. Barclays PLC now owns 34,539 shares of the financial services provider's stock valued at $38,198,000 after acquiring an additional 14,647 shares during the period. Finally, Mariner LLC increased its stake in Texas Pacific Land by 12.5% during the fourth quarter. Mariner LLC now owns 11,926 shares of the financial services provider's stock valued at $13,190,000 after acquiring an additional 1,326 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Trading Down 3.3%

TPL traded down $30.02 on Friday, hitting $882.53. 185,803 shares of the stock traded hands, compared to its average volume of 169,302. Texas Pacific Land Corporation has a 52 week low of $766.51 and a 52 week high of $1,769.14. The firm has a market capitalization of $20.29 billion, a PE ratio of 43.99 and a beta of 1.14. The business has a fifty day moving average price of $1,008.33 and a two-hundred day moving average price of $1,203.42.

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

Texas Pacific Land Dividend Announcement

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