Western Financial Corp CA Grows Stock Holdings in Texas Pacific Land Corporation (NYSE:TPL)

Western Financial Corp CA raised its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 61.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 810 shares of the financial services provider's stock after buying an additional 309 shares during the period. Western Financial Corp CA's holdings in Texas Pacific Land were worth $1,073,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in 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 valued at $2,599,426,000 after acquiring an additional 260,278 shares during the period. Geode Capital Management LLC lifted its position in shares of Texas Pacific Land by 34.5% during the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after purchasing an additional 159,597 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Texas Pacific Land by 241,048.0% in the first quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock valued at $479,278,000 after purchasing an additional 361,572 shares during the period. Invesco Ltd. grew its holdings in shares of Texas Pacific Land by 203.4% in the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock valued at $331,321,000 after purchasing an additional 200,841 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Texas Pacific Land by 21.8% during the 4th quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock worth $248,584,000 after buying an additional 40,185 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded up $36.20 during trading on Thursday, hitting $1,072.48. The company's stock had a trading volume of 161,058 shares, compared to its average volume of 146,725. Texas Pacific Land Corporation has a fifty-two week low of $724.75 and a fifty-two week high of $1,769.14. The business has a 50 day moving average price of $1,235.04 and a two-hundred day moving average price of $1,271.20. The company has a market capitalization of $24.65 billion, a PE ratio of 53.65 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing the consensus estimate 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 company had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Monday, June 2nd. Texas Pacific Land's payout ratio is presently 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.