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Stegent Equity Advisors Inc. Reduces Position in Texas Pacific Land Corporation (NYSE:TPL)

Texas Pacific Land logo with Energy background

Stegent Equity Advisors Inc. reduced its stake 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 Form 13F filing with the SEC. The firm owned 1,916 shares of the financial services provider's stock after selling 1,205 shares during the quarter. Texas Pacific Land makes up approximately 2.6% of Stegent Equity Advisors Inc.'s portfolio, making the stock its 9th largest position. Stegent Equity Advisors Inc.'s holdings in Texas Pacific Land were worth $2,538,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in 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 acquiring an additional 361,572 shares during the last quarter. Vanguard Group Inc. lifted its stake in 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 acquiring an additional 260,278 shares during the last quarter. Invesco Ltd. lifted its stake in 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 acquiring an additional 200,841 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 acquiring an additional 159,597 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in 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 acquiring an additional 109,455 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Trading Down 0.6%

NYSE TPL traded down $5.96 during trading on Friday, reaching $1,045.07. The company's stock had a trading volume of 109,702 shares, compared to its average volume of 147,313. The stock has a market capitalization of $24.03 billion, a PE ratio of 52.28 and a beta of 1.08. The business has a 50-day moving average price of $1,173.20 and a 200-day moving average price of $1,260.19. 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 posted its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (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 company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Monday, June 2nd. Texas Pacific Land's dividend payout ratio is 32.02%.

About Texas Pacific Land

(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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