Texas Pacific Land Corporation (NYSE:TPL) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 1,460.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,855 shares of the financial services provider's stock after acquiring an additional 2,672 shares during the quarter. Teacher Retirement System of Texas' holdings in Texas Pacific Land were worth $3,783,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TPL. Jones Financial Companies Lllp lifted its stake in Texas Pacific Land by 2,575.0% in the fourth quarter. Jones Financial Companies Lllp now owns 107 shares of the financial services provider's stock worth $118,000 after acquiring an additional 103 shares during the period. Assetmark Inc. bought a new position in Texas Pacific Land in the fourth quarter worth about $29,000. M&T Bank Corp raised its holdings in Texas Pacific Land by 2.1% in the fourth quarter. M&T Bank Corp now owns 941 shares of the financial services provider's stock worth $1,041,000 after purchasing an additional 19 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Texas Pacific Land in the fourth quarter worth about $31,802,000. Finally, Raymond James Financial Inc. bought a new position in Texas Pacific Land in the fourth quarter worth about $41,303,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

Texas Pacific Land stock traded down $4.26 during trading hours on Wednesday, reaching $1,042.21. The stock had a trading volume of 5,467 shares, compared to its average volume of 146,726. The company has a market cap of $23.96 billion, a price-to-earnings ratio of 52.32 and a beta of 1.08. The business's 50 day moving average price is $1,189.33 and its 200-day moving average price is $1,263.11. Texas Pacific Land Corporation has a 52 week low of $736.75 and a 52 week high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $211.00 million.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $6.40 annualized dividend and a yield of 0.61%. Texas Pacific Land's dividend payout ratio (DPR) 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.