Texas Pacific Land Corporation (NYSE:TPL) Shares Sold by National Bank of Canada FI

National Bank of Canada FI trimmed its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,626 shares of the financial services provider's stock after selling 1,389 shares during the quarter. National Bank of Canada FI's holdings in Texas Pacific Land were worth $10,105,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TPL. Raymond James Financial Inc. purchased a new stake in shares of Texas Pacific Land in the fourth quarter worth approximately $41,303,000. Bessemer Group Inc. raised its holdings in shares of Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after buying an additional 13 shares during the period. Townsquare Capital LLC grew its stake in Texas Pacific Land by 44.3% in the fourth quarter. Townsquare Capital LLC now owns 430 shares of the financial services provider's stock worth $476,000 after purchasing an additional 132 shares in the last quarter. Barclays PLC grew its stake in Texas Pacific Land by 73.6% in the fourth quarter. Barclays PLC now owns 34,539 shares of the financial services provider's stock worth $38,198,000 after purchasing an additional 14,647 shares in the last quarter. Finally, Mariner LLC grew its stake in Texas Pacific Land by 12.5% in the fourth quarter. Mariner LLC now owns 11,926 shares of the financial services provider's stock worth $13,190,000 after purchasing an additional 1,326 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Down 3.3%

NYSE:TPL traded down $30.02 during midday trading on Friday, hitting $882.53. The stock had a trading volume of 185,803 shares, compared to its average volume of 169,302. Texas Pacific Land Corporation has a one year low of $766.51 and a one year high of $1,769.14. The company has a market capitalization of $20.29 billion, a price-to-earnings ratio of 43.99 and a beta of 1.14. The stock has a 50-day moving average of $1,008.33 and a 200 day moving average of $1,202.94.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.48 by ($0.43). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%. The firm had revenue of $187.54 million during the quarter, compared to the consensus estimate of $198.00 million.

Texas Pacific Land Announces Dividend

The business also recently announced 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. This represents a $6.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 31.90%.

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.