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Texas Pacific Land Corporation (NYSE:TPL) Shares Sold by Stegent Equity Advisors Inc.

Texas Pacific Land logo with Energy background

Stegent Equity Advisors Inc. decreased its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 38.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,916 shares of the financial services provider's stock after selling 1,205 shares during the period. Texas Pacific Land comprises 2.6% of Stegent Equity Advisors Inc.'s portfolio, making the stock its 9th biggest position. Stegent Equity Advisors Inc.'s holdings in Texas Pacific Land were worth $2,538,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TPL. GAMMA Investing LLC increased its holdings in shares of Texas Pacific Land by 241,048.0% in the first quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock valued at $479,278,000 after purchasing an additional 361,572 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Texas Pacific Land by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after purchasing an additional 260,278 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Texas Pacific Land by 203.4% in the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock valued at $331,321,000 after purchasing an additional 200,841 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Texas Pacific Land by 34.5% in the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock valued at $693,023,000 after purchasing an additional 159,597 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Texas Pacific Land by 943.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock valued at $133,883,000 after purchasing an additional 109,455 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Trading Down 0.9%

Shares of Texas Pacific Land stock traded down $9.71 during midday trading on Monday, reaching $1,037.07. The company had a trading volume of 134,818 shares, compared to its average volume of 147,414. The company has a market capitalization of $23.84 billion, a price-to-earnings ratio of 51.88 and a beta of 1.08. The stock has a fifty day simple moving average of $1,173.20 and a 200 day simple moving average of $1,261.53. Texas Pacific Land Corporation has a 1-year low of $736.75 and a 1-year high of $1,769.14.

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 return on equity of 40.04% and a net margin of 63.24%. The business had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Announces Dividend

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 dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Monday, June 2nd. Texas Pacific Land's dividend payout ratio is presently 32.02%.

Texas Pacific Land Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Texas Pacific Land (NYSE:TPL)

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