Texas Pacific Land Corporation (NYSE:TPL) Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. lifted its position in Texas Pacific Land Corporation (NYSE:TPL) by 320.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105 shares of the financial services provider’s stock after acquiring an additional 80 shares during the period. Bessemer Group Inc.’s holdings in Texas Pacific Land were worth $139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in TPL. Assetmark Inc. purchased a new position in Texas Pacific Land in the 4th quarter valued at $29,000. Atala Financial Inc acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $31,000. MassMutual Private Wealth & Trust FSB raised its position 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 valued at $44,000 after buying an additional 21 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Texas Pacific Land by 45.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider’s stock worth $53,000 after buying an additional 15 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Texas Pacific Land by 213.3% during the first quarter. Versant Capital Management Inc now owns 47 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 32 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $1,075.97 on Friday. Texas Pacific Land Corporation has a one year low of $736.75 and a one year high of $1,769.14. The stock has a market cap of $24.74 billion, a PE ratio of 53.83 and a beta of 1.08. The stock has a 50 day moving average price of $1,206.54 and a 200 day moving average price of $1,264.00.

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). Texas Pacific Land had a net margin of 63.24% and a return on equity of 40.04%. The business had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $1.60 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.59%. Texas Pacific Land’s payout ratio is currently 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.