Janney Montgomery Scott LLC Boosts Holdings in Texas Pacific Land Corporation (NYSE:TPL)

Janney Montgomery Scott LLC increased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 7.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 17,679 shares of the financial services provider's stock after purchasing an additional 1,177 shares during the period. Janney Montgomery Scott LLC owned 0.08% of Texas Pacific Land worth $23,426,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Viewpoint Investment Partners Corp purchased a new stake in shares of Texas Pacific Land in the first quarter worth about $265,000. CVA Family Office LLC lifted its stake in Texas Pacific Land by 9.5% in the 1st quarter. CVA Family Office LLC now owns 115 shares of the financial services provider's stock worth $152,000 after purchasing an additional 10 shares in the last quarter. Fifth Third Bancorp lifted its stake in Texas Pacific Land by 105.6% in the 1st quarter. Fifth Third Bancorp now owns 222 shares of the financial services provider's stock worth $294,000 after purchasing an additional 114 shares in the last quarter. SG Americas Securities LLC lifted its stake in Texas Pacific Land by 40.1% in the 1st quarter. SG Americas Securities LLC now owns 608 shares of the financial services provider's stock worth $806,000 after purchasing an additional 174 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Texas Pacific Land by 82.0% in the first quarter. GAMMA Investing LLC now owns 273 shares of the financial services provider's stock worth $362,000 after buying an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Up 0.2%

Shares of TPL stock traded up $2.49 on Friday, reaching $1,082.23. The company's stock had a trading volume of 314,483 shares, compared to its average volume of 147,211. Texas Pacific Land Corporation has a 12-month low of $724.75 and a 12-month high of $1,769.14. The company has a market capitalization of $24.88 billion, a P/E ratio of 54.14 and a beta of 1.12. The stock's 50 day simple moving average is $1,247.78 and its 200-day simple moving average is $1,276.83.

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

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is currently 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.