Perigon Wealth Management LLC Takes $203,000 Position in Texas Pacific Land Corporation (NYSE:TPL)

Perigon Wealth Management LLC acquired a new stake in Texas Pacific Land Corporation (NYSE:TPL) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 153 shares of the financial services provider’s stock, valued at approximately $203,000.

Other large investors have also made changes to their positions in the company. Bessemer Group Inc. boosted its holdings in Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 13 shares during the last quarter. Golden State Wealth Management LLC boosted its stake 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 buying an additional 11 shares during the last quarter. Assetmark Inc. purchased a new stake in shares of Texas Pacific Land in the fourth quarter worth about $29,000. Atala Financial Inc purchased a new stake in shares of Texas Pacific Land in the fourth quarter worth about $31,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Texas Pacific Land by 175.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 33 shares of the financial services provider’s stock worth $44,000 after buying an additional 21 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Up 1.1%

Shares of TPL opened at $1,067.51 on Wednesday. Texas Pacific Land Corporation has a 52 week low of $725.46 and a 52 week high of $1,769.14. The stock’s 50-day moving average price is $1,217.00 and its 200-day moving average price is $1,266.31. The company has a market capitalization of $24.54 billion, a price-to-earnings ratio of 53.40 and a beta of 1.08.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data 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). Texas Pacific Land had a return on equity of 40.04% and a net margin of 63.24%. The company had revenue of $195.98 million during the quarter, compared to analysts’ expectations of $211.00 million.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Monday, June 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.02%.

Texas Pacific Land Company 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.