U.S. Capital Wealth Advisors LLC Acquires Shares of 2,391 Texas Pacific Land Corporation (NYSE:TPL)

U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,391 shares of the financial services provider's stock, valued at approximately $3,168,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in shares of Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after acquiring an additional 13 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Texas Pacific Land by 110.0% during the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock worth $28,000 after acquiring an additional 11 shares during the last quarter. Assetmark Inc. purchased a new position in shares of Texas Pacific Land during the 4th quarter worth $29,000. Atala Financial Inc bought a new stake in shares of Texas Pacific Land during the 4th quarter valued at $31,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Texas Pacific Land by 175.0% during the 1st 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 period. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Down 0.1%

NYSE TPL traded down $0.73 on Wednesday, reaching $1,045.74. The company had a trading volume of 89,802 shares, compared to its average volume of 147,201. The stock has a market capitalization of $24.04 billion, a PE ratio of 52.31 and a beta of 1.08. The firm's 50 day moving average price is $1,184.49 and its 200 day moving average price is $1,261.61. Texas Pacific Land Corporation has a 12 month low of $736.75 and a 12 month 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 earnings per share 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 the consensus estimate of $211.00 million.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $1.60 per share. The ex-dividend date was Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.61%. Texas Pacific Land's dividend payout ratio 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.