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

Teacher Retirement System of Texas increased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 1,460.1% in the 1st 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 purchasing 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.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Texas Pacific Land by 19.9% during the fourth quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock worth $44,979,000 after purchasing an additional 6,747 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Texas Pacific Land by 173.6% during the fourth quarter. Toronto Dominion Bank now owns 6,364 shares of the financial services provider's stock worth $7,038,000 after purchasing an additional 4,038 shares during the period. Spring Capital Management LLC acquired a new stake in shares of Texas Pacific Land during the first quarter worth $5,008,000. ProShare Advisors LLC lifted its holdings in shares of Texas Pacific Land by 347.0% during the fourth quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider's stock worth $4,059,000 after purchasing an additional 2,849 shares during the period. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Texas Pacific Land by 110.0% during the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock worth $28,000 after purchasing an additional 11 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Down 0.6%

Shares of NYSE TPL traded down $5.96 during mid-day trading on Friday, hitting $1,045.07. 109,702 shares of the company were exchanged, compared to its average volume of 147,142. The stock has a 50 day simple moving average of $1,179.29 and a 200-day simple moving average of $1,260.99. Texas Pacific Land Corporation has a 1-year low of $736.75 and a 1-year high of $1,769.14. The firm has a market cap of $24.02 billion, a price-to-earnings ratio of 52.28 and a beta of 1.08.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released 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 net margin of 63.24% and a return on equity of 40.04%. The business had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Dividend Announcement

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