Texas Pacific Land Corporation (NYSE:TPL) Shares Sold by Litman Gregory Wealth Management LLC

Litman Gregory Wealth Management LLC lessened its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 44.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Texas Pacific Land by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after buying an additional 260,278 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Texas Pacific Land by 34.5% in the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after buying an additional 159,597 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Texas Pacific Land by 241,048.0% during the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock valued at $479,278,000 after acquiring an additional 361,572 shares during the period. Invesco Ltd. lifted its stake in shares of Texas Pacific Land by 203.4% during the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock valued at $331,321,000 after buying an additional 200,841 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Texas Pacific Land by 21.8% in the 4th quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock worth $248,584,000 after acquiring an additional 40,185 shares during the last quarter. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Up 0.5%

Shares of NYSE:TPL traded up $4.57 during trading on Friday, reaching $996.79. 137,925 shares of the company's stock traded hands, compared to its average volume of 148,404. Texas Pacific Land Corporation has a fifty-two week low of $736.75 and a fifty-two week high of $1,769.14. The firm has a market cap of $22.91 billion, a PE ratio of 49.86 and a beta of 1.08. The company has a 50-day simple moving average of $1,141.17 and a 200-day simple moving average of $1,257.00.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share 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 business had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 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.