Cookson Peirce & Co. Inc. bought a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 421 shares of the financial services provider's stock, valued at approximately $466,000.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Exencial Wealth Advisors LLC acquired a new stake in Texas Pacific Land in the 4th quarter valued at approximately $219,000. Charles Schwab Investment Management Inc. increased its holdings in Texas Pacific Land by 31.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock valued at $198,669,000 after purchasing an additional 43,217 shares during the last quarter. State of Michigan Retirement System increased its holdings in Texas Pacific Land by 8.9% in the 4th quarter. State of Michigan Retirement System now owns 6,100 shares of the financial services provider's stock valued at $6,746,000 after purchasing an additional 500 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Texas Pacific Land by 1.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,859 shares of the financial services provider's stock valued at $2,056,000 after purchasing an additional 32 shares during the last quarter. Finally, Meridian Wealth Management LLC acquired a new stake in Texas Pacific Land in the 4th quarter valued at approximately $250,000. Institutional investors and hedge funds own 59.94% of the company's stock.
Texas Pacific Land Trading Up 5.5 %
Texas Pacific Land stock traded up $71.21 during trading on Friday, hitting $1,376.19. The company had a trading volume of 137,869 shares, compared to its average volume of 130,045. Texas Pacific Land Co. has a 1-year low of $503.08 and a 1-year high of $1,769.14. The company's 50 day simple moving average is $1,326.06 and its 200-day simple moving average is $1,190.11. The stock has a market cap of $31.63 billion, a price-to-earnings ratio of 69.79 and a beta of 1.69.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The business had revenue of $185.78 million during the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.
Texas Pacific Land Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $1.60 dividend. The ex-dividend date is Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. Texas Pacific Land's dividend payout ratio (DPR) is 32.45%.
Texas Pacific Land Profile
(
Free Report)
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.
Further Reading
Before you consider Texas Pacific Land, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Texas Pacific Land wasn't on the list.
While Texas Pacific Land currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
