21 Shares in Texas Pacific Land Corporation (NYSE:TPL) Purchased by Zions Bancorporation National Association UT

Zions Bancorporation National Association UT acquired a new position in Texas Pacific Land Corporation (NYSE:TPL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 21 shares of the financial services provider’s stock, valued at approximately $28,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hemington Wealth Management increased its position in 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 purchasing an additional 8 shares during the period. Golden State Wealth Management LLC increased its position 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 purchasing an additional 11 shares during the period. Bessemer Group Inc. increased its position 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 worth $28,000 after purchasing an additional 13 shares during the period. Allworth Financial LP increased its position in 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 purchasing an additional 8 shares during the period. Finally, GW&K Investment Management LLC increased its position in Texas Pacific Land by 237.5% in the first quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 19 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Trading Up 3.1%

Shares of TPL opened at $883.75 on Thursday. Texas Pacific Land Corporation has a 1 year low of $766.51 and a 1 year high of $1,769.14. The stock has a market cap of $20.32 billion, a P/E ratio of 44.06 and a beta of 1.14. The stock’s 50-day moving average price is $1,016.59 and its two-hundred day moving average price is $1,208.43.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.48 by ($0.43). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%. The company had revenue of $187.54 million for the quarter, compared to the consensus estimate of $198.00 million.

Texas Pacific Land Dividend Announcement

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