Pecaut & CO. Has $18.26 Million Stock Holdings in Texas Pacific Land Corporation (NYSE:TPL)

Pecaut & CO. trimmed its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,780 shares of the financial services provider's stock after selling 325 shares during the period. Texas Pacific Land makes up 6.2% of Pecaut & CO.'s investment portfolio, making the stock its 4th biggest holding. Pecaut & CO. owned approximately 0.06% of Texas Pacific Land worth $18,258,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of TPL. JPMorgan Chase & Co. boosted its holdings in Texas Pacific Land by 19.9% in the 4th quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock valued at $44,979,000 after purchasing an additional 6,747 shares during the period. Toronto Dominion Bank boosted its holdings in Texas Pacific Land by 173.6% in the 4th quarter. Toronto Dominion Bank now owns 6,364 shares of the financial services provider's stock valued at $7,038,000 after purchasing an additional 4,038 shares during the period. Spring Capital Management LLC bought a new position in Texas Pacific Land in the 1st quarter valued at $5,008,000. ProShare Advisors LLC boosted its holdings in Texas Pacific Land by 347.0% in the 4th quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider's stock valued at $4,059,000 after purchasing an additional 2,849 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings in Texas Pacific Land by 110.0% in the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 11 shares during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

NYSE:TPL traded up $4.57 during trading hours on Friday, hitting $996.79. The stock had a trading volume of 137,925 shares, compared to its average volume of 148,129. The company has a 50 day simple moving average of $1,141.17 and a two-hundred day simple moving average of $1,255.43. Texas Pacific Land Corporation has a one year low of $736.75 and a one year high of $1,769.14. The firm has a market capitalization of $22.92 billion, a price-to-earnings ratio of 49.86 and a beta of 1.08.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $195.98 million during the quarter, compared to the consensus estimate of $211.00 million.

Texas Pacific Land Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 0.64%. The ex-dividend date was Monday, June 2nd. 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.