Chevy Chase Trust Holdings LLC Acquires New Shares in Texas Pacific Land Co. (NYSE:TPL)

Chevy Chase Trust Holdings LLC purchased a new stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 9,886 shares of the financial services provider's stock, valued at approximately $10,934,000.

Several other institutional investors have also made changes to their positions in TPL. Hilltop Holdings Inc. lifted its holdings in Texas Pacific Land by 290.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider's stock worth $1,606,000 after purchasing an additional 1,350 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in Texas Pacific Land by 63.5% in the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider's stock worth $2,634,000 after purchasing an additional 1,156 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Texas Pacific Land by 5.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider's stock worth $7,864,000 after purchasing an additional 431 shares during the last quarter. Biltmore Family Office LLC acquired a new stake in Texas Pacific Land in the 3rd quarter worth approximately $337,000. Finally, Everence Capital Management Inc. bought a new position in Texas Pacific Land in the 4th quarter worth approximately $641,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Up 2.7 %

NYSE TPL traded up $38.42 during trading on Thursday, hitting $1,443.29. The company's stock had a trading volume of 149,007 shares, compared to its average volume of 124,935. The firm has a 50 day moving average price of $1,279.22 and a 200 day moving average price of $1,144.34. The firm has a market cap of $33.17 billion, a P/E ratio of 74.05 and a beta of 1.68. Texas Pacific Land Co. has a 52 week low of $493.40 and a 52 week high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The company had revenue of $185.78 million for the quarter. Texas Pacific Land had a return on equity of 40.57% and a net margin of 65.34%.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land's dividend payout ratio is presently 32.84%.

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.