Virtu Financial LLC Grows Stock Position in Texas Pacific Land Corporation (NYSE:TPL)

Key Points

• Virtu Financial LLC increased its stake in Texas Pacific Land Corporation by 457.3% during the first quarter, acquiring an additional 910 shares for a total of 1,109 shares worth approximately $1.47 million.
• Texas Pacific Land recently reported a quarterly earnings per share of $5.05, which fell short of the consensus estimate of $5.48, alongside a revenue of $187.54 million.
• The company has declared a quarterly dividend of $1.60, resulting in an annualized dividend of $6.40 and a dividend yield of 0.7%, with a payout ratio of 31.90%.

Virtu Financial LLC grew its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 457.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,109 shares of the financial services provider's stock after purchasing an additional 910 shares during the period. Virtu Financial LLC's holdings in Texas Pacific Land were worth $1,469,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Hemington Wealth Management boosted its stake in shares of Texas Pacific Land by 66.7% in the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock worth $26,000 after buying an additional 8 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of 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 buying 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% in the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock worth $28,000 after buying an additional 11 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in Texas Pacific Land during the first quarter worth approximately $28,000. Finally, Allworth Financial LP boosted its position in Texas Pacific Land by 42.1% during the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock worth $36,000 after purchasing an additional 8 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

TPL stock traded up $2.50 during mid-day trading on Tuesday, reaching $857.33. 119,848 shares of the company's stock were exchanged, compared to its average volume of 170,357. The company has a market cap of $19.71 billion, a price-to-earnings ratio of 42.74 and a beta of 1.14. The stock's 50 day moving average is $1,021.00 and its 200 day moving average is $1,210.69. Texas Pacific Land Corporation has a 12-month low of $766.51 and a 12-month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.48 by ($0.43). The business had revenue of $187.54 million for the quarter, compared to analysts' expectations of $198.00 million. Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $1.60 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. Texas Pacific Land's dividend payout ratio is currently 31.90%.

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.