Mad River Investors Decreases Stock Holdings in Texas Pacific Land Corporation (NYSE:TPL)

Mad River Investors reduced its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,183 shares of the financial services provider's stock after selling 755 shares during the period. Texas Pacific Land makes up about 53.4% of Mad River Investors' investment portfolio, making the stock its largest position. Mad River Investors owned about 0.41% of Texas Pacific Land worth $126,116,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its position in Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after purchasing an additional 13 shares during the period. Assetmark Inc. bought a new position in shares of Texas Pacific Land during the 4th quarter worth about $29,000. Atala Financial Inc bought a new position in shares of Texas Pacific Land during the 4th quarter worth about $31,000. MassMutual Private Wealth & Trust FSB raised its position 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 worth $44,000 after purchasing an additional 21 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in Texas Pacific Land by 45.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock worth $53,000 after purchasing an additional 15 shares during the period. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Performance

NYSE TPL traded down $20.90 during trading on Wednesday, reaching $1,039.04. 123,984 shares of the company traded hands, compared to its average volume of 146,668. Texas Pacific Land Corporation has a 1-year low of $724.75 and a 1-year high of $1,769.14. The company has a market cap of $23.89 billion, a price-to-earnings ratio of 51.98 and a beta of 1.12. The stock's 50 day moving average price is $1,235.04 and its two-hundred day moving average price is $1,271.20.

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 net margin of 63.24% and a return on equity of 40.04%. The company had revenue of $195.98 million for the quarter, compared to the consensus estimate of $211.00 million.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Monday, June 2nd. Texas Pacific Land's payout ratio is currently 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.