LPL Financial LLC Has $15.08 Million Stock Position in Texas Pacific Land Corporation (NYSE:TPL)

LPL Financial LLC decreased its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 15.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 11,380 shares of the financial services provider's stock after selling 2,121 shares during the period. LPL Financial LLC's holdings in Texas Pacific Land were worth $15,079,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in 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 worth $479,278,000 after buying an additional 361,572 shares during the period. Invesco Ltd. raised its position in shares of Texas Pacific Land by 203.4% during the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after purchasing an additional 200,841 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Texas Pacific Land by 943.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock valued at $133,883,000 after purchasing an additional 109,455 shares in the last quarter. Northern Trust Corp grew its position in shares of 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 valued at $248,584,000 after purchasing an additional 40,185 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Texas Pacific Land during the 4th quarter worth approximately $41,303,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Price Performance

TPL traded down $3.87 during trading on Friday, reaching $863.59. The company had a trading volume of 160,188 shares, compared to its average volume of 138,554. The company has a market cap of $19.85 billion, a P/E ratio of 43.05 and a beta of 1.14. Texas Pacific Land Corporation has a 12 month low of $766.51 and a 12 month high of $1,769.14. The business's fifty day moving average price is $1,036.62 and its 200 day moving average price is $1,223.18.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 EPS 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 return on equity of 40.85% and a net margin of 62.16%.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given 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 payout ratio is 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.