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Texas Pacific Land Corporation (NYSE:TPL) Shares Sold by Xponance Inc.

Texas Pacific Land logo with Energy background

Xponance Inc. cut its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 5.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,608 shares of the financial services provider's stock after selling 286 shares during the quarter. Xponance Inc.'s holdings in Texas Pacific Land were worth $6,106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bessemer Group Inc. increased its holdings in shares of Texas Pacific Land by 108.3% in the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 13 shares during the period. Golden State Wealth Management LLC increased its holdings in shares of Texas Pacific Land by 110.0% in the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 11 shares during the period. Assetmark Inc. purchased a new position in shares of Texas Pacific Land in the 4th quarter valued at $29,000. Atala Financial Inc purchased a new position in shares of Texas Pacific Land in the 4th quarter valued at $31,000. Finally, Allworth Financial LP increased its holdings in shares of Texas Pacific Land by 42.1% in the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 8 shares during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Down 0.6%

Shares of NYSE:TPL traded down $5.96 on Friday, reaching $1,045.07. The company had a trading volume of 109,702 shares, compared to its average volume of 147,464. Texas Pacific Land Corporation has a 52-week low of $736.75 and a 52-week high of $1,769.14. The firm's 50 day simple moving average is $1,173.20 and its 200-day simple moving average is $1,260.88. The firm has a market capitalization of $24.03 billion, a PE ratio of 52.28 and a beta of 1.08.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million. Texas Pacific Land had a return on equity of 40.04% and a net margin of 63.24%.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $1.60 dividend. The ex-dividend date of this dividend 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 payout ratio is 32.02%.

Texas Pacific Land Company Profile

(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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Institutional Ownership by Quarter for Texas Pacific Land (NYSE:TPL)

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