Envestnet Asset Management Inc. Has $5.23 Million Stake in Texas Pacific Land Corporation (NYSE:TPL)

Envestnet Asset Management Inc. trimmed its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 14.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,944 shares of the financial services provider's stock after selling 682 shares during the period. Envestnet Asset Management Inc.'s holdings in Texas Pacific Land were worth $5,226,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in shares of Texas Pacific Land by 2.8% during the 4th quarter. Huntington National Bank now owns 333 shares of the financial services provider's stock valued at $368,000 after acquiring an additional 9 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Texas Pacific Land by 13.0% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider's stock valued at $103,000 after acquiring an additional 9 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Texas Pacific Land by 0.4% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,093 shares of the financial services provider's stock valued at $2,773,000 after acquiring an additional 9 shares in the last quarter. CVA Family Office LLC grew its holdings in shares of Texas Pacific Land by 9.5% during the 1st quarter. CVA Family Office LLC now owns 115 shares of the financial services provider's stock valued at $152,000 after acquiring an additional 10 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Texas Pacific Land by 3.3% in the first quarter. Farther Finance Advisors LLC now owns 344 shares of the financial services provider's stock worth $465,000 after purchasing an additional 11 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

NYSE:TPL traded up $9.89 during trading hours on Friday, reaching $979.33. The company's stock had a trading volume of 182,922 shares, compared to its average volume of 146,664. The company has a market cap of $22.51 billion, a price-to-earnings ratio of 48.99 and a beta of 1.08. Texas Pacific Land Corporation has a one year low of $736.75 and a one year high of $1,769.14. The business's 50-day moving average is $1,097.61 and its 200-day moving average is $1,247.17.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $195.98 million during the quarter, compared to the consensus estimate of $211.00 million. Texas Pacific Land had a return on equity of 40.04% and a net margin of 63.24%.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date was Monday, June 2nd. Texas Pacific Land's dividend payout ratio is presently 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.