Nelson Capital Management LLC Cuts Stock Position in Texas Pacific Land Corporation (NYSE:TPL)

Nelson Capital Management LLC lessened its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 22.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,401 shares of the financial services provider's stock after selling 414 shares during the period. Nelson Capital Management LLC's holdings in Texas Pacific Land were worth $1,856,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TPL. Riversedge Advisors LLC lifted its holdings in shares of Texas Pacific Land by 2.2% in the 1st quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider's stock valued at $490,000 after buying an additional 8 shares during the period. Allworth Financial LP lifted its holdings in Texas Pacific Land by 42.1% during the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 8 shares in the last quarter. Huntington National Bank lifted its holdings in Texas Pacific Land by 2.8% during the fourth quarter. Huntington National Bank now owns 333 shares of the financial services provider's stock valued at $368,000 after purchasing an additional 9 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Texas Pacific Land by 13.0% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider's stock worth $103,000 after purchasing an additional 9 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Texas Pacific Land by 0.4% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,093 shares of the financial services provider's stock worth $2,773,000 after purchasing an additional 9 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Down 0.6%

Texas Pacific Land stock traded down $6.01 during mid-day trading on Wednesday, reaching $931.36. 217,015 shares of the company's stock were exchanged, compared to its average volume of 149,375. The company has a market cap of $21.41 billion, a P/E ratio of 46.59 and a beta of 1.08. Texas Pacific Land Corporation has a twelve month low of $736.75 and a twelve month high of $1,769.14. The company has a fifty day moving average of $1,124.88 and a 200-day moving average of $1,253.10.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.27 by ($0.03). The firm had revenue of $195.98 million for 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $1.60 dividend. The ex-dividend date was Monday, June 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.69%. Texas Pacific Land's dividend payout ratio is presently 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.