Tobam Lowers Holdings in Texas Pacific Land Co. (NYSE:TPL)

Tobam trimmed its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 56.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 645 shares of the financial services provider's stock after selling 852 shares during the period. Tobam's holdings in Texas Pacific Land were worth $855,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TPL. Huntington National Bank boosted its position in shares of Texas Pacific Land by 2.8% during the fourth quarter. Huntington National Bank now owns 333 shares of the financial services provider's stock valued at $368,000 after purchasing an additional 9 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Texas Pacific Land by 13.0% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider's stock valued at $103,000 after purchasing an additional 9 shares in the last quarter. Signaturefd LLC boosted its position in shares of Texas Pacific Land by 11.1% during the fourth quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock valued at $111,000 after purchasing an additional 10 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Texas Pacific Land by 3.3% during the first quarter. Farther Finance Advisors LLC now owns 344 shares of the financial services provider's stock valued at $465,000 after purchasing an additional 11 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Texas Pacific Land by 108.3% during the fourth 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. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

Shares of NYSE TPL traded down $28.24 during mid-day trading on Monday, hitting $1,091.35. 165,548 shares of the stock traded hands, compared to its average volume of 157,368. Texas Pacific Land Co. has a 52 week low of $724.75 and a 52 week high of $1,769.14. The company has a market cap of $25.09 billion, a price-to-earnings ratio of 55.34 and a beta of 1.12. The stock has a fifty day moving average price of $1,260.51 and a 200-day moving average price of $1,286.66.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced 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 company had revenue of $195.98 million for the quarter, compared to analysts' expectations of $211.00 million. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Announces Dividend

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