Spire Wealth Management Makes New Investment in Texas Pacific Land Corporation (NYSE:TPL)

Spire Wealth Management purchased a new position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 637 shares of the financial services provider's stock, valued at approximately $844,000.

A number of other large investors also recently modified their holdings of the company. Sentry Investment Management LLC acquired a new position in Texas Pacific Land in the fourth quarter valued at $87,000. New York Life Investment Management LLC purchased a new stake in shares of Texas Pacific Land in the fourth quarter valued at $2,796,000. Proficio Capital Partners LLC purchased a new stake in shares of Texas Pacific Land during the 4th quarter valued at $31,802,000. Bouchey Financial Group Ltd acquired a new stake in Texas Pacific Land during the fourth quarter worth about $213,000. Finally, Hosking Partners LLP raised its holdings in Texas Pacific Land by 28.3% in the fourth quarter. Hosking Partners LLP now owns 11,039 shares of the financial services provider's stock valued at $12,209,000 after buying an additional 2,436 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

NYSE TPL traded up $14.01 on Tuesday, reaching $1,070.40. The company had a trading volume of 74,579 shares, compared to its average volume of 146,582. Texas Pacific Land Corporation has a 1 year low of $724.75 and a 1 year high of $1,769.14. The firm has a market capitalization of $24.61 billion, a PE ratio of 53.56 and a beta of 1.12. The firm has a 50-day moving average of $1,221.85 and a 200-day moving average of $1,267.70.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced 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). The firm had revenue of $195.98 million for the quarter, compared to the consensus estimate of $211.00 million. Texas Pacific Land had a return on equity of 40.04% and a net margin of 63.24%.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 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.