Teachers Retirement System of The State of Kentucky Cuts Stock Position in Texas Pacific Land Corporation (NYSE:TPL)

Teachers Retirement System of The State of Kentucky decreased its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 55.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,420 shares of the financial services provider's stock after selling 1,770 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Texas Pacific Land were worth $1,882,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in Texas Pacific Land by 19.9% in the fourth quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock valued at $44,979,000 after acquiring an additional 6,747 shares during the last quarter. Toronto Dominion Bank increased its position 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 buying an additional 4,038 shares during the period. Spring Capital Management LLC bought a new position in Texas Pacific Land during the first quarter worth $5,008,000. ProShare Advisors LLC lifted its holdings in Texas Pacific Land by 347.0% in the fourth quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider's stock valued at $4,059,000 after buying an additional 2,849 shares during the period. Finally, Golden State Wealth Management LLC boosted its position in 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 valued at $28,000 after acquiring an additional 11 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded up $39.26 during midday trading on Thursday, reaching $970.54. The company's stock had a trading volume of 316,796 shares, compared to its average volume of 138,877. Texas Pacific Land Corporation has a fifty-two week low of $736.75 and a fifty-two week high of $1,769.14. The firm has a 50 day moving average price of $1,106.60 and a two-hundred day moving average price of $1,249.12. The firm has a market capitalization of $22.31 billion, a price-to-earnings ratio of 48.55 and a beta of 1.08.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.27 by ($0.03). The company had revenue of $195.98 million during the quarter, compared to the consensus estimate of $211.00 million. Texas Pacific Land had a net margin of 63.24% and a return on equity of 40.04%.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $1.60 per share. The ex-dividend date was Monday, June 2nd. This represents a $6.40 annualized dividend and a yield of 0.66%. Texas Pacific Land's payout ratio is 32.02%.

Texas Pacific Land Company 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.