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

Net Worth Advisory Group reduced its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 57.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm 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 filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Apollon Wealth Management LLC increased its holdings in Texas Pacific Land by 6.8% during the fourth quarter. Apollon Wealth Management LLC now owns 695 shares of the financial services provider's stock worth $769,000 after buying an additional 44 shares during the last quarter. Savant Capital LLC bought a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $221,000. Hartford Investment Management Co. bought a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $1,285,000. Allspring Global Investments Holdings LLC boosted its position in shares of Texas Pacific Land by 6,144.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,684 shares of the financial services provider's stock valued at $4,347,000 after acquiring an additional 3,625 shares during the period. Finally, York GP Ltd. bought a new stake in Texas Pacific Land during the fourth quarter worth about $101,859,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

TPL traded down $28.24 on Monday, hitting $1,091.35. 165,548 shares of the stock were exchanged, compared to its average volume of 157,368. The firm has a market capitalization of $25.09 billion, a price-to-earnings ratio of 55.34 and a beta of 1.12. Texas Pacific Land Co. has a 12 month low of $724.75 and a 12 month high of $1,769.14. The business has a 50-day moving average of $1,260.51 and a two-hundred day moving average of $1,286.66.

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

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land's dividend 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.