Net Worth Advisory Group Sells 303 Shares of Texas Pacific Land Co. (NYSE:TPL)

Net Worth Advisory Group trimmed its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 57.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221 shares of the financial services provider's stock after selling 303 shares during the period. Net Worth Advisory Group's holdings in Texas Pacific Land were worth $293,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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 worth $368,000 after acquiring an additional 9 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Texas Pacific Land by 13.0% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider's stock worth $103,000 after acquiring an additional 9 shares in the last quarter. Signaturefd LLC lifted its holdings in Texas Pacific Land by 11.1% during the fourth quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock worth $111,000 after acquiring an additional 10 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Texas Pacific Land by 3.3% during the first quarter. Farther Finance Advisors LLC now owns 344 shares of the financial services provider's stock worth $465,000 after acquiring an additional 11 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Texas Pacific Land by 108.3% during the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after acquiring an additional 13 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Trading Up 1.9%

Shares of Texas Pacific Land stock traded up $20.72 during trading on Friday, reaching $1,118.22. The stock had a trading volume of 148,403 shares, compared to its average volume of 157,334. The company has a market capitalization of $25.70 billion, a price-to-earnings ratio of 56.71 and a beta of 1.12. The stock has a fifty day moving average price of $1,260.93 and a two-hundred day moving average price of $1,292.62. Texas Pacific Land Co. has a 52 week low of $724.75 and a 52 week high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing analysts' consensus estimates of $5.27 by ($0.03). The firm had revenue of $195.98 million during the quarter, compared to the consensus estimate of $211.00 million. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 annualized dividend and a yield of 0.57%. Texas Pacific Land's payout ratio is presently 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.