Sowell Financial Services LLC Takes Position in Texas Pacific Land Co. (NYSE:TPL)

Sowell Financial Services LLC acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,202 shares of the financial services provider’s stock, valued at approximately $2,918,000.

A number of other hedge funds have also recently bought and sold shares of TPL. Huntington National Bank lifted its stake in shares of Texas Pacific Land by 2.8% during the 4th quarter. Huntington National Bank now owns 333 shares of the financial services provider’s stock worth $368,000 after purchasing an additional 9 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in Texas Pacific Land by 13.0% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider’s stock worth $103,000 after buying an additional 9 shares during the period. Signaturefd LLC boosted its stake in Texas Pacific Land by 11.1% in the 4th quarter. Signaturefd LLC now owns 100 shares of the financial services provider’s stock worth $111,000 after buying an additional 10 shares during the last quarter. CVA Family Office LLC boosted its stake in Texas Pacific Land by 9.5% in the 1st quarter. CVA Family Office LLC now owns 115 shares of the financial services provider’s stock worth $152,000 after buying an additional 10 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Texas Pacific Land by 3.3% in the 1st quarter. Farther Finance Advisors LLC now owns 344 shares of the financial services provider’s stock valued at $465,000 after buying an additional 11 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

NYSE TPL opened at $1,091.35 on Tuesday. The company has a 50-day moving average of $1,260.51 and a 200-day moving average of $1,286.66. Texas Pacific Land Co. has a 12 month low of $724.75 and a 12 month high of $1,769.14. The company has a market cap of $25.09 billion, a P/E ratio of 55.34 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing analysts’ consensus estimates of $5.27 by ($0.03). Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The company had revenue of $195.98 million for the quarter, compared to analysts’ expectations 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 $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Monday, June 2nd. Texas Pacific Land’s payout ratio is currently 32.02%.

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.