Texas Pacific Land Corporation (NYSE:TPL) Shares Purchased by Larson Financial Group LLC

Larson Financial Group LLC lifted its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 12,866.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 389 shares of the financial services provider's stock after acquiring an additional 386 shares during the period. Larson Financial Group LLC's holdings in Texas Pacific Land were worth $515,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TPL. Golden State Wealth Management LLC increased its position in 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 buying an additional 11 shares in the last quarter. Bessemer Group Inc. increased its position 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 valued at $28,000 after buying an additional 13 shares in the last quarter. Allworth Financial LP increased its position in Texas Pacific Land by 42.1% during the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after buying an additional 8 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Texas Pacific Land by 175.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 33 shares of the financial services provider's stock valued at $44,000 after buying an additional 21 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in Texas Pacific Land by 213.3% during the 1st quarter. Versant Capital Management Inc now owns 47 shares of the financial services provider's stock valued at $62,000 after buying an additional 32 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Price Performance

Texas Pacific Land stock traded down $28.53 during trading hours on Monday, hitting $968.58. 146,651 shares of the stock traded hands, compared to its average volume of 148,397. The firm's 50 day moving average price is $1,141.17 and its 200-day moving average price is $1,257.00. The stock has a market capitalization of $22.27 billion, a price-to-earnings ratio of 49.88 and a beta of 1.08. Texas Pacific Land Corporation has a 1 year low of $736.75 and a 1 year high of $1,769.14.

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

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $1.60 per share. The ex-dividend date was Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.66%. Texas Pacific Land's payout ratio 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.