Golden State Wealth Management LLC Has $28,000 Stake in Texas Pacific Land Corporation (NYSE:TPL)

Golden State Wealth Management LLC grew its position in Texas Pacific Land Corporation (NYSE:TPL) by 110.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21 shares of the financial services provider’s stock after purchasing an additional 11 shares during the quarter. Golden State Wealth Management LLC’s holdings in Texas Pacific Land were worth $28,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TPL. Bessemer Group Inc. grew its position in shares of 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. Assetmark Inc. acquired a new stake in Texas Pacific Land during the fourth quarter worth approximately $29,000. Atala Financial Inc acquired a new stake in Texas Pacific Land during the fourth quarter worth approximately $31,000. MassMutual Private Wealth & Trust FSB grew its position in 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 buying an additional 21 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its position in Texas Pacific Land by 45.5% during 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. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $1,075.97 on Friday. The company has a market capitalization of $24.74 billion, a P/E ratio of 53.83 and a beta of 1.08. Texas Pacific Land Corporation has a 1 year low of $736.75 and a 1 year high of $1,769.14. The business’s 50 day simple moving average is $1,206.54 and its 200 day simple moving average is $1,264.00.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.27 by ($0.03). The company had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million. Texas Pacific Land had a return on equity of 40.04% and a net margin of 63.24%.

Texas Pacific Land Announces Dividend

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