Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Tobam

Tobam lessened its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 56.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake 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 valued at $479,278,000 after acquiring an additional 361,572 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Texas Pacific Land by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock worth $2,599,426,000 after buying an additional 260,278 shares in the last quarter. Invesco Ltd. increased its stake in shares of Texas Pacific Land by 203.4% during the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock valued at $331,321,000 after buying an additional 200,841 shares during the period. Geode Capital Management LLC raised its holdings in shares of Texas Pacific Land by 34.5% in the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock valued at $693,023,000 after acquiring an additional 159,597 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Texas Pacific Land by 943.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock worth $133,883,000 after acquiring an additional 109,455 shares during the period. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Price Performance

NYSE TPL traded up $20.72 during trading on Friday, reaching $1,118.22. 148,403 shares of the company's stock traded hands, compared to its average volume of 157,610. Texas Pacific Land Co. has a 12-month low of $724.75 and a 12-month high of $1,769.14. The firm has a market cap of $25.70 billion, a price-to-earnings ratio of 56.71 and a beta of 1.12. The company's 50 day simple moving average is $1,260.93 and its two-hundred day simple moving average is $1,295.00.

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 EPS 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 the consensus estimate of $211.00 million. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors 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 dividend yield of 0.57%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is currently 32.02%.

Texas Pacific Land Company 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.