Texas Pacific Land Corporation (NYSE:TPL) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lowered its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 7.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,294 shares of the financial services provider's stock after selling 878 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Texas Pacific Land were worth $14,963,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bessemer Group Inc. lifted 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 acquiring an additional 13 shares during the period. Assetmark Inc. purchased a new position in shares of Texas Pacific Land during the fourth quarter worth $29,000. Atala Financial Inc acquired a new position in Texas Pacific Land during the fourth quarter valued at $31,000. MassMutual Private Wealth & Trust FSB boosted its holdings in 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 valued at $44,000 after purchasing an additional 21 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Texas Pacific Land by 213.3% in the first quarter. Versant Capital Management Inc now owns 47 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

NYSE TPL opened at $1,082.23 on Monday. The firm has a market capitalization of $24.88 billion, a P/E ratio of 54.14 and a beta of 1.12. The stock has a 50-day simple moving average of $1,247.78 and a two-hundred day simple moving average of $1,276.33. Texas Pacific Land Corporation has a fifty-two week low of $724.75 and a fifty-two week high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results 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). The company had revenue of $195.98 million for 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $1.60 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $6.40 annualized dividend and a yield of 0.59%. Texas Pacific Land's dividend payout ratio is presently 32.02%.

About Texas Pacific Land

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.

Want to see what other hedge funds are holding TPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Pacific Land Corporation (NYSE:TPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.