Daiwa Securities Group Inc. raised its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 71.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,658 shares of the financial services provider's stock after purchasing an additional 1,111 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Texas Pacific Land were worth $2,940,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Assetmark Inc. acquired a new position in Texas Pacific Land in the 4th quarter worth about $29,000. Quest Partners LLC bought a new stake in shares of Texas Pacific Land in the 3rd quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Texas Pacific Land in the 4th quarter worth about $66,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock valued at $76,000 after purchasing an additional 12 shares during the period. Finally, Sentry Investment Management LLC bought a new stake in shares of Texas Pacific Land during the 4th quarter valued at about $87,000. Institutional investors own 59.94% of the company's stock.
Texas Pacific Land Trading Up 5.2 %
TPL stock traded up $65.12 during mid-day trading on Friday, reaching $1,319.96. The company's stock had a trading volume of 98,603 shares, compared to its average volume of 129,599. Texas Pacific Land Co. has a 12 month low of $547.00 and a 12 month high of $1,769.14. The business's 50 day moving average price is $1,343.50 and its 200 day moving average price is $1,208.86. The company has a market cap of $30.34 billion, a price-to-earnings ratio of 66.93 and a beta of 1.68.
Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly 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 return on equity of 40.23% and a net margin of 64.32%. The business had revenue of $185.78 million for the quarter.
Texas Pacific Land Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $1.60 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.48%. Texas Pacific Land's payout ratio is 32.45%.
About Texas Pacific Land
(
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.
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