Texas Pacific Land Corporation (NYSE:TPL) Stock Holdings Trimmed by Mad River Investors

Mad River Investors decreased its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 0.8% during the first quarter, HoldingsChannel reports. The firm owned 95,183 shares of the financial services provider’s stock after selling 755 shares during the period. Texas Pacific Land makes up approximately 53.4% of Mad River Investors’ holdings, making the stock its biggest holding. Mad River Investors’ holdings in Texas Pacific Land were worth $126,116,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TPL. GAMMA Investing LLC raised its position in Texas Pacific Land by 241,048.0% during 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 in the last quarter. Vanguard Group Inc. grew its stake 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. grew its stake 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 valued at $331,321,000 after buying an additional 200,841 shares during the last quarter. Geode Capital Management LLC grew its stake 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 valued at $693,023,000 after buying an additional 159,597 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Texas Pacific Land by 943.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider’s stock valued at $133,883,000 after buying an additional 109,455 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 0.2%

Shares of NYSE:TPL opened at $1,082.23 on Friday. The stock’s 50-day moving average price is $1,247.78 and its 200-day moving average price is $1,276.83. Texas Pacific Land Corporation has a 12-month low of $724.75 and a 12-month high of $1,769.14. The stock has a market capitalization of $24.88 billion, a P/E ratio of 54.14 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $211.00 million.

Texas Pacific Land Dividend Announcement

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 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%.

About Texas Pacific Land

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.