Meridian Wealth Management LLC bought a new position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 226 shares of the financial services provider's stock, valued at approximately $250,000.
Several other large investors have also recently bought and sold shares of the business. State Street Corp raised its holdings in Texas Pacific Land by 3.8% during the third quarter. State Street Corp now owns 762,627 shares of the financial services provider's stock worth $674,727,000 after purchasing an additional 27,884 shares in the last quarter. Geode Capital Management LLC raised its stake in Texas Pacific Land by 21.5% during the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider's stock worth $411,943,000 after acquiring an additional 81,974 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Texas Pacific Land by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider's stock worth $120,694,000 after acquiring an additional 1,984 shares in the last quarter. Douglass Winthrop Advisors LLC lifted its position in Texas Pacific Land by 3.5% in the third quarter. Douglass Winthrop Advisors LLC now owns 99,198 shares of the financial services provider's stock valued at $87,764,000 after acquiring an additional 3,363 shares during the last quarter. Finally, York GP Ltd. acquired a new position in Texas Pacific Land in the fourth quarter valued at $101,859,000. Hedge funds and other institutional investors own 59.94% of the company's stock.
Texas Pacific Land Stock Performance
Shares of TPL stock traded up $71.21 during mid-day trading on Friday, hitting $1,376.19. 137,869 shares of the stock were exchanged, compared to its average volume of 130,045. Texas Pacific Land Co. has a 12-month low of $503.08 and a 12-month high of $1,769.14. The stock has a market capitalization of $31.63 billion, a price-to-earnings ratio of 69.79 and a beta of 1.69. The stock's fifty day simple moving average is $1,326.06 and its two-hundred day simple moving average is $1,190.11.
Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The company had revenue of $185.78 million for the quarter.
Texas Pacific Land Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $1.60 dividend. The ex-dividend date is Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.47%. Texas Pacific Land's dividend payout ratio (DPR) 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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