Texas Pacific Land Corporation (NYSE:TPL) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,191 shares of the financial services provider’s stock after selling 64 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Texas Pacific Land were worth $2,903,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its holdings in 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. Bessemer Group Inc. lifted its holdings in shares of Texas Pacific Land by 108.3% during the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 13 shares during the period. Allworth Financial LP lifted its holdings in shares of Texas Pacific Land by 42.1% during the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 8 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Texas Pacific Land by 175.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 33 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 21 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of 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 purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 0.5%

Texas Pacific Land stock opened at $996.79 on Friday. Texas Pacific Land Corporation has a 52 week low of $736.75 and a 52 week high of $1,769.14. The company has a market capitalization of $22.92 billion, a price-to-earnings ratio of 49.86 and a beta of 1.08. The stock has a 50-day moving average price of $1,141.17 and a 200 day moving average price of $1,255.43.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Dividend Announcement

The company also recently announced 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 dividend yield of 0.64%. The ex-dividend date was Monday, June 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is 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.