Cumberland Partners Ltd Purchases Shares of 1,150 Texas Pacific Land Co. (NYSE:TPL)

Cumberland Partners Ltd acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,150 shares of the financial services provider's stock, valued at approximately $1,272,000.

Other hedge funds have also modified their holdings of the company. Caprock Group LLC grew its position in shares of Texas Pacific Land by 3.0% in the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider's stock valued at $302,000 after purchasing an additional 8 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock valued at $76,000 after acquiring an additional 12 shares in the last quarter. Signaturefd LLC raised its stake in shares of Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock valued at $80,000 after purchasing an additional 13 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in Texas Pacific Land by 3.0% in the third quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider's stock worth $390,000 after purchasing an additional 13 shares during the period. Finally, First Financial Bankshares Inc boosted its position in Texas Pacific Land by 2.2% during the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider's stock valued at $667,000 after purchasing an additional 16 shares during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Up 2.7 %

Texas Pacific Land stock traded up $38.42 during mid-day trading on Thursday, hitting $1,443.29. 149,007 shares of the company's stock traded hands, compared to its average volume of 124,937. The firm has a 50 day moving average price of $1,279.22 and a 200 day moving average price of $1,144.34. Texas Pacific Land Co. has a one year low of $493.40 and a one year high of $1,769.14. The company has a market cap of $33.17 billion, a PE ratio of 74.05 and a beta of 1.68.

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

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued 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 payout ratio is 32.84%.

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.