North Point Portfolio Managers Corp OH Has $16.33 Million Stock Position in Texas Pacific Land Corporation (NYSE:TPL)

North Point Portfolio Managers Corp OH lowered its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 0.1% in the first quarter, HoldingsChannel reports. The firm owned 12,328 shares of the financial services provider’s stock after selling 15 shares during the period. Texas Pacific Land makes up 2.9% of North Point Portfolio Managers Corp OH’s portfolio, making the stock its 11th largest position. North Point Portfolio Managers Corp OH’s holdings in Texas Pacific Land were worth $16,334,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TPL. Vanguard Group Inc. lifted its position in shares of Texas Pacific Land by 12.5% in 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. Geode Capital Management LLC lifted its holdings in Texas Pacific Land by 34.5% during the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider’s stock valued at $693,023,000 after purchasing an additional 159,597 shares during the last quarter. GAMMA Investing LLC lifted its holdings 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 last quarter. Invesco Ltd. boosted its position in 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 purchasing an additional 200,841 shares during the period. Finally, Northern Trust Corp raised its position in shares of Texas Pacific Land by 21.8% in the fourth quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider’s stock valued at $248,584,000 after purchasing an additional 40,185 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

NYSE TPL opened at $1,082.23 on Friday. The stock has a market cap of $24.88 billion, a PE ratio of 54.14 and a beta of 1.12. The firm has a 50-day moving average of $1,247.78 and a 200-day moving average of $1,276.83. Texas Pacific Land Corporation has a 52-week low of $724.75 and a 52-week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.27 by ($0.03). The company had revenue of $195.98 million during the quarter, compared to the consensus estimate 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 company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $1.60 per share. The ex-dividend date was Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.59%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.02%.

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.