Sequoia Financial Advisors LLC Sells 14,914 Shares of Texas Pacific Land Corporation (NYSE:TPL)

Sequoia Financial Advisors LLC lowered its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 98.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 222 shares of the financial services provider’s stock after selling 14,914 shares during the period. Sequoia Financial Advisors LLC’s holdings in Texas Pacific Land were worth $294,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. raised its stake in Texas Pacific Land by 108.3% in the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 13 shares during the period. Golden State Wealth Management LLC raised its stake in Texas Pacific Land by 110.0% in the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 11 shares during the period. Assetmark Inc. bought a new stake in Texas Pacific Land in the 4th quarter valued at $29,000. Atala Financial Inc bought a new stake in Texas Pacific Land in the 4th quarter valued at $31,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Texas Pacific Land by 175.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 33 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 21 shares during the period. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 0.4%

TPL opened at $1,075.97 on Friday. Texas Pacific Land Corporation has a 1-year low of $736.75 and a 1-year high of $1,769.14. The stock’s fifty day simple moving average is $1,206.54 and its 200 day simple moving average is $1,264.00. The stock has a market cap of $24.74 billion, a PE ratio of 53.83 and a beta of 1.08.

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 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 the consensus estimate of $211.00 million.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid 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 dividend payout ratio (DPR) is presently 32.02%.

About Texas Pacific Land

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.