Western Financial Corp CA boosted its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 61.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 810 shares of the financial services provider's stock after acquiring an additional 309 shares during the quarter. Western Financial Corp CA's holdings in Texas Pacific Land were worth $1,073,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bessemer Group Inc. lifted its stake in Texas Pacific Land by 108.3% during the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after purchasing an additional 13 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Texas Pacific Land by 110.0% during the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock worth $28,000 after purchasing an additional 11 shares during the last quarter. Assetmark Inc. purchased a new stake in Texas Pacific Land during the fourth quarter worth approximately $29,000. Atala Financial Inc purchased a new stake in Texas Pacific Land during the fourth quarter worth approximately $31,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in Texas Pacific Land by 175.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 33 shares of the financial services provider's stock worth $44,000 after buying an additional 21 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.
Texas Pacific Land Stock Down 2.1%
TPL traded down $22.49 during trading on Friday, hitting $1,052.96. 209,752 shares of the stock were exchanged, compared to its average volume of 146,871. The firm has a market capitalization of $24.21 billion, a P/E ratio of 52.67 and a beta of 1.12. Texas Pacific Land Corporation has a 1-year low of $724.75 and a 1-year high of $1,769.14. The stock has a fifty day moving average price of $1,225.73 and a two-hundred day moving average price of $1,268.69.
Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results 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 during the quarter, compared to analyst estimates of $211.00 million. Texas Pacific Land had a net margin of 63.24% and a return on equity of 40.04%.
Texas Pacific Land Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Monday, June 2nd. Texas Pacific Land's payout ratio is currently 32.02%.
About Texas Pacific Land
(
Free Report)
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.
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