Sapient Capital LLC Reduces Position in Texas Pacific Land Co. (NYSE:TPL)

Sapient Capital LLC reduced its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 3.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,864 shares of the financial services provider's stock after selling 557 shares during the quarter. Sapient Capital LLC owned 0.08% of Texas Pacific Land worth $23,670,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Huntington National Bank boosted its holdings in Texas Pacific Land by 2.8% in 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 during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew 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 during the period. Signaturefd LLC raised its position in Texas Pacific Land by 11.1% during the fourth quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock valued at $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% in the first quarter. Farther Finance Advisors LLC now owns 344 shares of the financial services provider's stock valued at $465,000 after acquiring an additional 11 shares during the period. Finally, Bessemer Group Inc. boosted its position in Texas Pacific Land by 108.3% in the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after purchasing an additional 13 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

NYSE TPL traded up $14.68 during trading hours on Friday, reaching $1,112.18. The company's stock had a trading volume of 90,188 shares, compared to its average volume of 157,857. Texas Pacific Land Co. has a 1-year low of $724.75 and a 1-year high of $1,769.14. The company's 50-day moving average is $1,260.82 and its two-hundred day moving average is $1,298.13. The firm has a market capitalization of $25.57 billion, a price-to-earnings ratio of 56.50 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted 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 return on equity of 40.23% and a net margin of 64.32%. 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 disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.58%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's dividend payout ratio is currently 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.