Litman Gregory Wealth Management LLC Sells 853 Shares of Texas Pacific Land Corporation (NYSE:TPL)

Litman Gregory Wealth Management LLC decreased its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 44.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,080 shares of the financial services provider's stock after selling 853 shares during the quarter. Litman Gregory Wealth Management LLC's holdings in Texas Pacific Land were worth $1,431,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TPL. Avantax Advisory Services Inc. boosted its stake in Texas Pacific Land by 3.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 1,258 shares of the financial services provider's stock worth $1,391,000 after acquiring an additional 39 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Texas Pacific Land during the 4th quarter worth approximately $452,000. Envestnet Portfolio Solutions Inc. bought a new position in Texas Pacific Land during the 4th quarter worth approximately $424,000. Cibc World Markets Corp boosted its stake in Texas Pacific Land by 163.3% during the 4th quarter. Cibc World Markets Corp now owns 2,999 shares of the financial services provider's stock worth $3,317,000 after acquiring an additional 1,860 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Texas Pacific Land by 11.1% during the 4th quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock worth $111,000 after buying an additional 10 shares during the period. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $985.76 on Thursday. The company has a market capitalization of $22.66 billion, a P/E ratio of 49.31 and a beta of 1.08. The company's 50 day moving average price is $1,153.22 and its two-hundred day moving average price is $1,256.96. Texas Pacific Land Corporation has a 52 week low of $736.75 and a 52 week high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing the consensus estimate of $5.27 by ($0.03). The company had revenue of $195.98 million for the quarter, compared to analyst estimates 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 business 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 annualized dividend and a yield of 0.65%. Texas Pacific Land's dividend payout ratio (DPR) 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.

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