Sowell Financial Services LLC Invests $2.92 Million in Texas Pacific Land Corporation (NYSE:TPL)

Sowell Financial Services LLC purchased a new stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm 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 bought and sold shares of the stock. Huntington National Bank grew its position in shares of Texas Pacific Land by 2.8% during the 4th quarter. Huntington National Bank now owns 333 shares of the financial services provider's stock valued at $368,000 after acquiring an additional 9 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings 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 valued at $103,000 after purchasing an additional 9 shares during the period. Signaturefd LLC boosted its position in Texas Pacific Land by 11.1% during the 4th 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. CVA Family Office LLC boosted its holdings in shares of Texas Pacific Land by 9.5% during the 1st quarter. CVA Family Office LLC now owns 115 shares of the financial services provider's stock valued at $152,000 after buying an additional 10 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of 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 worth $465,000 after buying an additional 11 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Shares of TPL stock traded up $2.49 during mid-day trading on Friday, reaching $1,082.23. 305,517 shares of the company's stock traded hands, compared to its average volume of 157,721. The firm has a 50 day moving average price of $1,250.85 and a two-hundred day moving average price of $1,280.97. The firm has a market capitalization of $24.88 billion, a PE ratio of 54.14 and a beta of 1.12. Texas Pacific Land Corporation 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 released 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). Texas Pacific Land had a return on equity of 40.04% and a net margin of 63.24%. The firm had revenue of $195.98 million for the quarter, compared to analysts' expectations of $211.00 million.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders 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 yield of 0.59%. Texas Pacific Land's dividend payout ratio is presently 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.