HB Wealth Management LLC Raises Stock Holdings in Texas Pacific Land Corporation (NYSE:TPL)

Key Points

• HB Wealth Management LLC increased its stake in Texas Pacific Land Corporation (NYSE:TPL) by 24.0%, owning 1,430 shares valued at approximately $1.89 million by the end of the first quarter.
• In the latest quarter, Texas Pacific Land reported earnings per share of $5.24, slightly below the consensus estimate, with a revenue of $195.98 million against expectations of $211 million.
• Texas Pacific Land recently announced a quarterly dividend of $1.60 per share, representing a 0.64% yield and a payout ratio of 32.02%.

HB Wealth Management LLC raised its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 24.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,430 shares of the financial services provider's stock after purchasing an additional 277 shares during the period. HB Wealth Management LLC's holdings in Texas Pacific Land were worth $1,895,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TPL. GAMMA Investing LLC increased its position in Texas Pacific Land by 241,048.0% during the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock worth $479,278,000 after purchasing an additional 361,572 shares in the last quarter. Invesco Ltd. grew its stake in Texas Pacific Land by 203.4% during the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after buying an additional 200,841 shares during the period. Geode Capital Management LLC grew its stake in Texas Pacific Land by 34.5% during the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after buying an additional 159,597 shares during the period. Price T Rowe Associates Inc. MD increased its position 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 worth $133,883,000 after acquiring an additional 109,455 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Texas Pacific Land by 21.8% in the 4th quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock valued at $248,584,000 after acquiring an additional 40,185 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded down $31.53 during midday trading on Friday, hitting $936.60. 32,833 shares of the company's stock traded hands, compared to its average volume of 137,029. The firm's fifty day moving average price is $1,067.53 and its two-hundred day moving average price is $1,238.69. Texas Pacific Land Corporation has a twelve month low of $736.75 and a twelve month high of $1,769.14. The company has a market cap of $21.53 billion, a PE ratio of 46.89 and a beta of 1.08.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data 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 company had revenue of $195.98 million during the quarter, compared to analysts' expectations of $211.00 million.

Texas Pacific Land Announces Dividend

The company also recently announced 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 0.7%. Texas Pacific Land's dividend 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.