Pecaut & CO. Decreases Stock Position in Texas Pacific Land Corporation (NYSE:TPL)

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in shares of Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after purchasing an additional 13 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of Texas Pacific Land by 110.0% during the 1st 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 last quarter. Allworth Financial LP lifted its position in shares of Texas Pacific Land by 42.1% during the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock worth $36,000 after purchasing an additional 8 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Texas Pacific Land by 175.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 33 shares of the financial services provider's stock worth $44,000 after purchasing an additional 21 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Texas Pacific Land by 45.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock worth $53,000 after purchasing an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Trading Down 2.9%

TPL traded down $28.53 on Monday, hitting $968.58. 146,651 shares of the stock traded hands, compared to its average volume of 148,397. Texas Pacific Land Corporation has a 52 week low of $736.75 and a 52 week high of $1,769.14. The firm has a market capitalization of $22.27 billion, a PE ratio of 49.88 and a beta of 1.08. The business has a fifty day moving average price of $1,141.17 and a two-hundred day moving average price of $1,257.00.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results 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). 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 for the quarter, compared to the consensus estimate of $211.00 million.

Texas Pacific Land Dividend Announcement

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