228 Shares in Texas Pacific Land Corporation (NYSE:TPL) Acquired by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC bought a new position in shares of Texas Pacific Land Corporation (NYSE:TPL) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 228 shares of the financial services provider’s stock, valued at approximately $303,000.

A number of other large investors have also recently made changes to their positions in the company. Sowell Financial Services LLC purchased a new stake in shares of Texas Pacific Land during the first quarter worth approximately $2,918,000. Janney Montgomery Scott LLC increased its stake in shares of Texas Pacific Land by 7.1% during the first quarter. Janney Montgomery Scott LLC now owns 17,679 shares of the financial services provider’s stock worth $23,426,000 after buying an additional 1,177 shares during the period. Viewpoint Investment Partners Corp purchased a new position in Texas Pacific Land in the first quarter valued at approximately $265,000. CVA Family Office LLC increased its stake in Texas Pacific Land by 9.5% in the first quarter. CVA Family Office LLC now owns 115 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 10 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in Texas Pacific Land by 105.6% in the first quarter. Fifth Third Bancorp now owns 222 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 114 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Down 0.7%

Shares of Texas Pacific Land stock opened at $1,079.75 on Friday. The firm has a market capitalization of $24.82 billion, a P/E ratio of 54.01 and a beta of 1.12. Texas Pacific Land Corporation has a 52 week low of $724.75 and a 52 week high of $1,769.14. The firm’s 50 day moving average is $1,250.85 and its two-hundred day moving average is $1,280.97.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS 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 analysts’ expectations 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 firm 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 dividend on an annualized basis and a dividend yield of 0.59%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 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.