Sowell Financial Services LLC Buys Shares of 2,202 Texas Pacific Land Co. (NYSE:TPL)

Sowell Financial Services LLC purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,202 shares of the financial services provider's stock, valued at approximately $2,918,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Savant Capital LLC purchased a new position in shares of Texas Pacific Land in the fourth quarter valued at $221,000. Allspring Global Investments Holdings LLC grew its stake in Texas Pacific Land by 6,144.1% in the 4th 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 last quarter. Asset Management One Co. Ltd. increased its holdings in Texas Pacific Land by 5.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 7,477 shares of the financial services provider's stock valued at $8,562,000 after acquiring an additional 392 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Texas Pacific Land during the fourth quarter worth about $195,000. Finally, Chevy Chase Trust Holdings LLC acquired a new position in Texas Pacific Land during the fourth quarter worth about $10,934,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $1,091.35 on Tuesday. The firm's 50-day moving average is $1,260.51 and its two-hundred day moving average is $1,286.66. The company has a market capitalization of $25.09 billion, a PE 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.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its 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 company had revenue of $195.98 million during the quarter, compared to analysts' expectations 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 disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders 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 0.59%. Texas Pacific Land's dividend payout ratio is currently 32.02%.

Texas Pacific Land 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.

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