Texas Pacific Land Corporation (NYSE:TPL) Shares Bought by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. significantly increased its stake in Texas Pacific Land Corporation by 1,690.1%, acquiring a total of 9,416 shares worth approximately $12.48 million.
• Texas Pacific Land's quarterly earnings report showed a missed earnings estimate of $5.24 per share, slightly below the expected $5.27, with revenue reported at $195.98 million.
• The company declared a quarterly dividend of $1.60 per share, representing a 0.7% yield, paid on June 16th, with a dividend payout ratio of 32.02%.

Jefferies Financial Group Inc. raised its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 1,690.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,416 shares of the financial services provider's stock after purchasing an additional 8,890 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Texas Pacific Land were worth $12,476,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC grew its holdings in shares of Texas Pacific Land by 110.0% during the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after buying an additional 11 shares during the last quarter. Bessemer Group Inc. lifted its position in 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 acquiring an additional 13 shares during the period. Allworth Financial LP lifted its position in 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 acquiring an additional 8 shares during the period. GW&K Investment Management LLC grew its stake in Texas Pacific Land by 237.5% during the 1st quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 19 shares during the last quarter. Finally, IMA Advisory Services Inc. acquired a new position in shares of Texas Pacific Land in the first quarter valued at about $36,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Down 1.9%

Shares of NYSE:TPL opened at $967.64 on Friday. Texas Pacific Land Corporation has a 52-week low of $736.75 and a 52-week high of $1,769.14. The stock has a market cap of $22.25 billion, a price-to-earnings ratio of 48.41 and a beta of 1.08. The business has a 50-day moving average price of $1,067.53 and a 200-day moving average price of $1,238.69.

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 for the quarter, missing the consensus estimate 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 during 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. Investors of record on Monday, June 2nd were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 32.02%.

Texas Pacific Land 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.

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