Texas Pacific Land Corporation (NYSE:TPL) Stock Position Lessened by Mad River Investors

Mad River Investors lowered its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,183 shares of the financial services provider's stock after selling 755 shares during the period. Texas Pacific Land accounts for approximately 53.4% of Mad River Investors' portfolio, making the stock its largest holding. Mad River Investors owned 0.41% of Texas Pacific Land worth $126,116,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Texas Pacific Land by 12.5% during the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock worth $2,599,426,000 after acquiring an additional 260,278 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Texas Pacific Land by 34.5% during the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after acquiring an additional 159,597 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Texas Pacific Land by 241,048.0% during the first quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock worth $479,278,000 after acquiring an additional 361,572 shares in the last quarter. Invesco Ltd. raised its position in shares of Texas Pacific Land by 203.4% in the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after buying an additional 200,841 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Texas Pacific Land by 21.8% in the fourth quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock worth $248,584,000 after buying an additional 40,185 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $1,082.23 on Friday. Texas Pacific Land Corporation has a 52-week low of $724.75 and a 52-week high of $1,769.14. The company has a market capitalization of $24.88 billion, a PE ratio of 54.14 and a beta of 1.12. The business's fifty day moving average is $1,247.78 and its 200 day moving average is $1,276.83.

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). 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 analysts' expectations of $211.00 million.

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 given a $1.60 dividend. The ex-dividend date was Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.59%. Texas Pacific Land's dividend payout ratio (DPR) is presently 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.

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.