37,346 Shares in Texas Pacific Land Co. (NYSE:TPL) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 37,346 shares of the financial services provider's stock, valued at approximately $41,303,000. Raymond James Financial Inc. owned about 0.16% of Texas Pacific Land at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TPL. York GP Ltd. bought a new position in shares of Texas Pacific Land during the fourth quarter valued at about $101,859,000. Geode Capital Management LLC lifted its stake in Texas Pacific Land by 21.5% in the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider's stock worth $411,943,000 after acquiring an additional 81,974 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Texas Pacific Land by 31.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock valued at $198,669,000 after acquiring an additional 43,217 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Texas Pacific Land in the 4th quarter worth $31,802,000. Finally, State Street Corp lifted its holdings in Texas Pacific Land by 3.8% in the third quarter. State Street Corp now owns 762,627 shares of the financial services provider's stock worth $674,727,000 after buying an additional 27,884 shares during the period. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Up 4.4 %

Shares of NYSE:TPL traded up $54.98 during trading on Friday, hitting $1,309.82. The stock had a trading volume of 43,257 shares, compared to its average volume of 128,449. Texas Pacific Land Co. has a 12 month low of $547.00 and a 12 month high of $1,769.14. The company has a market capitalization of $30.11 billion, a PE ratio of 66.51 and a beta of 1.68. The firm's fifty day moving average is $1,339.88 and its 200 day moving average is $1,200.57.

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Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The firm had revenue of $185.78 million for the quarter.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $1.60 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.49%. Texas Pacific Land's dividend payout ratio is currently 32.45%.

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.