Texas Pacific Land Corporation (NYSE:TPL) Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL sold 4.2% of its holdings in Texas Pacific Land Corporation, now owning 7,995 shares valued at approximately $10.6 million.
• Texas Pacific Land recently announced a $1.60 quarterly dividend with a yield of 0.7%, and its annualized dividend payout ratio is currently 32.02%.
• The stock has shown a 1.6% increase, opening at $949.76, with a market cap of $21.83 billion and a 52-week range between $736.75 and $1,769.14.

Blair William & Co. IL reduced its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,995 shares of the financial services provider's stock after selling 352 shares during the quarter. Blair William & Co. IL's holdings in Texas Pacific Land were worth $10,593,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Texas Pacific Land in the 1st quarter valued at $397,000. Cumberland Partners Ltd increased its stake in Texas Pacific Land by 117.4% in the first quarter. Cumberland Partners Ltd now owns 2,500 shares of the financial services provider's stock valued at $3,312,000 after purchasing an additional 1,350 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Texas Pacific Land by 14.1% during the first quarter. PNC Financial Services Group Inc. now owns 51,260 shares of the financial services provider's stock worth $67,919,000 after buying an additional 6,320 shares during the period. Jefferies Financial Group Inc. grew its holdings in Texas Pacific Land by 1,690.1% in the 1st quarter. Jefferies Financial Group Inc. now owns 9,416 shares of the financial services provider's stock valued at $12,476,000 after buying an additional 8,890 shares during the period. Finally, Shufro Rose & Co. LLC acquired a new position in shares of Texas Pacific Land during the 1st quarter valued at about $4,158,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Down 0.4%

Shares of TPL stock traded down $3.87 during trading hours on Friday, hitting $863.59. 160,173 shares of the company were exchanged, compared to its average volume of 138,554. Texas Pacific Land Corporation has a 1 year low of $766.51 and a 1 year high of $1,769.14. The firm has a fifty day moving average of $1,036.62 and a 200 day moving average of $1,223.18. The firm has a market cap of $19.85 billion, a PE ratio of 43.05 and a beta of 1.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.48 by ($0.43). The company had revenue of $187.54 million for the quarter, compared to analysts' expectations of $198.00 million. Texas Pacific Land had a net margin of 62.16% and a return on equity of 40.85%.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 31.90%.

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.