Texas Pacific Land Corporation (NYSE:TPL - Get Free Report) shares dropped 3.4% during mid-day trading on Monday . The stock traded as low as $1,082.90 and last traded at $1,081.13. Approximately 60,097 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 156,963 shares. The stock had previously closed at $1,119.58.
Texas Pacific Land Trading Down 0.7%
The stock has a market capitalization of $24.82 billion, a P/E ratio of 54.01 and a beta of 1.12. The stock's 50 day simple moving average is $1,250.85 and its 200 day simple moving average is $1,280.97.
Texas Pacific Land (NYSE:TPL - Get Free Report) last issued 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). Texas Pacific Land had a net margin of 63.24% and a return on equity of 40.04%. The company had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million.
Texas Pacific Land Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $6.40 annualized dividend and a yield of 0.59%. Texas Pacific Land's payout ratio is 32.02%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in TPL. GAMMA Investing LLC boosted its stake in Texas Pacific Land by 241,048.0% during the 1st 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. Vanguard Group Inc. raised its holdings in shares of Texas Pacific Land by 12.5% during the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after buying an additional 260,278 shares during the last quarter. Invesco Ltd. boosted its position in shares of Texas Pacific Land by 203.4% during the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after buying an additional 200,841 shares during the period. Geode Capital Management LLC grew its holdings in Texas Pacific Land by 34.5% in the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after buying an additional 159,597 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Texas Pacific Land by 943.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock worth $133,883,000 after buying an additional 109,455 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.
About Texas Pacific Land
(
Get 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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