Daiwa Securities Group Inc. Purchases 1,111 Shares of Texas Pacific Land Co. (NYSE:TPL)

Daiwa Securities Group Inc. increased its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 71.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,658 shares of the financial services provider's stock after acquiring an additional 1,111 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Texas Pacific Land were worth $2,940,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Texas Pacific Land by 72.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,640 shares of the financial services provider's stock worth $7,344,000 after acquiring an additional 2,782 shares in the last quarter. Kendall Capital Management purchased a new stake in Texas Pacific Land during the 4th quarter valued at approximately $232,000. AMF Tjanstepension AB purchased a new stake in Texas Pacific Land during the 4th quarter valued at approximately $7,350,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Texas Pacific Land during the 4th quarter valued at approximately $3,318,000. Finally, Lindbrook Capital LLC grew its holdings in Texas Pacific Land by 24.0% during the 4th quarter. Lindbrook Capital LLC now owns 362 shares of the financial services provider's stock valued at $400,000 after buying an additional 70 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

TPL traded up $65.12 during trading on Friday, reaching $1,319.96. 98,603 shares of the company traded hands, 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 firm has a fifty day simple moving average of $1,343.50 and a 200 day simple moving average of $1,204.10. The company has a market cap of $30.34 billion, a P/E ratio of 66.93 and a beta of 1.68.

Remove Ads

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data 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 64.32% and a return on equity of 40.23%. The business had revenue of $185.78 million during the quarter.

Texas Pacific Land Announces Dividend

The company also recently announced 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. 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 0.48%. 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.