Assetmark Inc. Acquires 13 Shares of Texas Pacific Land Corporation (NYSE:TPL)

Assetmark Inc. lifted its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 50.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 39 shares of the financial services provider’s stock after acquiring an additional 13 shares during the period. Assetmark Inc.’s holdings in Texas Pacific Land were worth $52,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPL. Bessemer Group Inc. lifted its holdings in shares of Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 13 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Texas Pacific Land by 110.0% during the 1st 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 during the period. Allworth Financial LP lifted its holdings in shares of Texas Pacific Land by 42.1% during the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 8 shares during the period. GW&K Investment Management LLC lifted its holdings in shares of Texas Pacific Land by 237.5% during the 1st quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 19 shares during the period. Finally, IMA Advisory Services Inc. bought a new position in shares of Texas Pacific Land during the 1st quarter worth about $36,000. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $949.76 on Tuesday. The company has a 50-day moving average of $1,054.25 and a 200-day moving average of $1,230.68. The company has a market capitalization of $21.83 billion, a price-to-earnings ratio of 47.51 and a beta of 1.14. Texas Pacific Land Corporation has a 52 week low of $736.75 and a 52 week high of $1,769.14.

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

Texas Pacific Land Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 2nd. Texas Pacific Land’s dividend payout ratio (DPR) 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.