Russell Investments Group Ltd. Has $13.07 Million Stock Position in Texas Pacific Land Corporation $TPL

Russell Investments Group Ltd. lifted its position in Texas Pacific Land Corporation (NYSE:TPL) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,865 shares of the financial services provider’s stock after purchasing an additional 364 shares during the quarter. Russell Investments Group Ltd.’s holdings in Texas Pacific Land were worth $13,071,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP grew its stake 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 purchasing an additional 8 shares during the period. Riversedge Advisors LLC boosted its stake in Texas Pacific Land by 2.2% in the 1st quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider’s stock valued at $490,000 after buying an additional 8 shares in the last quarter. Hemington Wealth Management grew its position in Texas Pacific Land by 66.7% in the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 8 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in Texas Pacific Land by 13.0% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 9 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Texas Pacific Land by 0.4% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,093 shares of the financial services provider’s stock worth $2,773,000 after acquiring an additional 9 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Down 3.3%

NYSE:TPL opened at $882.53 on Monday. The firm has a market cap of $20.29 billion, a PE ratio of 43.99 and a beta of 1.14. Texas Pacific Land Corporation has a 12 month low of $766.51 and a 12 month high of $1,769.14. The company’s 50-day moving average price is $1,008.33 and its two-hundred day moving average price is $1,202.32.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing analysts’ consensus estimates of $5.48 by ($0.43). Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%. The business had revenue of $187.54 million during the quarter, compared to analyst estimates of $198.00 million.

Texas Pacific Land Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $1.60 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. Texas Pacific Land’s dividend payout ratio is presently 31.90%.

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.