LGT Group Foundation Invests $235,000 in Texas Pacific Land Corporation (NYSE:TPL)

LGT Group Foundation acquired a new position in Texas Pacific Land Corporation (NYSE:TPL) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 177 shares of the financial services provider’s stock, valued at approximately $235,000.

Several other large investors also recently made changes to their positions in TPL. Hemington Wealth Management increased its position in shares of Texas Pacific Land by 66.7% in the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 8 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 13 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Texas Pacific Land by 110.0% in the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 11 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Texas Pacific Land in the first quarter worth $28,000. Finally, Allworth Financial LP increased its position in shares of Texas Pacific Land by 42.1% in the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 8 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 3.1%

Texas Pacific Land stock opened at $883.75 on Thursday. The firm has a fifty day moving average of $1,016.59 and a 200-day moving average of $1,208.43. The firm has a market capitalization of $20.32 billion, a P/E ratio of 44.06 and a beta of 1.14. Texas Pacific Land Corporation has a 52-week low of $766.51 and a 52-week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last released its quarterly 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). The firm had revenue of $187.54 million for the quarter, compared to analyst estimates of $198.00 million. Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Pacific Land’s dividend payout ratio (DPR) 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.