HB Wealth Management LLC Has $1.90 Million Stock Position in Texas Pacific Land Corporation (NYSE:TPL)

HB Wealth Management LLC lifted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 24.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,430 shares of the financial services provider’s stock after acquiring an additional 277 shares during the period. HB Wealth Management LLC’s holdings in Texas Pacific Land were worth $1,895,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TPL. Geode Capital Management LLC lifted its position in Texas Pacific Land by 34.5% in the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider’s stock worth $693,023,000 after purchasing an additional 159,597 shares during the period. GAMMA Investing LLC raised its holdings in shares of Texas Pacific Land by 241,048.0% in the first quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider’s stock valued at $479,278,000 after buying an additional 361,572 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Texas Pacific Land by 203.4% in 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. Northern Trust Corp raised its holdings 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 buying an additional 40,185 shares during the last quarter. Finally, Schwartz Investment Counsel Inc. raised its holdings in shares of Texas Pacific Land by 0.4% in the first quarter. Schwartz Investment Counsel Inc. now owns 150,823 shares of the financial services provider’s stock valued at $199,839,000 after buying an additional 642 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 0.5%

Shares of NYSE:TPL opened at $974.73 on Tuesday. The stock has a market capitalization of $22.41 billion, a P/E ratio of 48.76 and a beta of 1.08. Texas Pacific Land Corporation has a 1-year low of $736.75 and a 1-year high of $1,769.14. The business has a 50-day moving average price of $1,088.77 and a two-hundred day moving average price of $1,244.45.

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 for the quarter, missing the consensus estimate of $5.27 by ($0.03). The firm had revenue of $195.98 million for the quarter, compared to the consensus estimate 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 business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given 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 dividend yield of 0.66%. Texas Pacific Land’s payout ratio 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.