Essex Financial Services Inc. decreased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,294 shares of the financial services provider's stock after selling 244 shares during the quarter. Texas Pacific Land comprises 1.5% of Essex Financial Services Inc.'s holdings, making the stock its 14th biggest position. Essex Financial Services Inc. owned approximately 0.07% of Texas Pacific Land worth $20,264,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of TPL. Bessemer Group Inc. increased its stake 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 valued at $28,000 after purchasing an additional 13 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of Texas Pacific Land by 110.0% in the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock worth $28,000 after acquiring an additional 11 shares during the period. Assetmark Inc. acquired a new stake in shares of Texas Pacific Land in the fourth quarter worth $29,000. Atala Financial Inc acquired a new stake in shares of Texas Pacific Land in the fourth quarter worth $31,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Texas Pacific Land by 175.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 33 shares of the financial services provider's stock worth $44,000 after acquiring an additional 21 shares during the period. Institutional investors and hedge funds own 59.94% of the company's stock.
Texas Pacific Land Price Performance
NYSE:TPL opened at $1,052.96 on Friday. The firm has a market capitalization of $24.21 billion, a P/E ratio of 52.67 and a beta of 1.12. Texas Pacific Land Corporation has a 1-year low of $724.75 and a 1-year high of $1,769.14. The company's fifty day moving average price is $1,225.73 and its 200-day moving average price is $1,268.20.
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 earnings per share 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 analyst estimates 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 Announces Dividend
The firm also recently disclosed 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 of this dividend was Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.61%. Texas Pacific Land's payout ratio is currently 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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