Metis Global Partners LLC Raises Position in Texas Pacific Land Co. (NYSE:TPL)

Metis Global Partners LLC increased its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 160.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 645 shares of the financial services provider's stock after acquiring an additional 397 shares during the quarter. Metis Global Partners LLC's holdings in Texas Pacific Land were worth $713,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TPL. York GP Ltd. acquired a new stake in Texas Pacific Land during the 4th quarter worth $101,859,000. 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. Proficio Capital Partners LLC acquired a new stake in Texas Pacific Land during the 4th quarter worth $31,802,000. State Street Corp raised its stake in Texas Pacific Land by 3.8% during the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider's stock worth $674,727,000 after acquiring an additional 27,884 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Texas Pacific Land during the 3rd quarter worth $12,928,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Trading Up 5.5 %

NYSE:TPL traded up $71.21 during midday trading on Friday, hitting $1,376.19. 137,869 shares of the company were exchanged, compared to its average volume of 130,045. The company has a fifty day simple moving average of $1,321.43 and a 200 day simple moving average of $1,183.82. Texas Pacific Land Co. has a fifty-two week low of $503.08 and a fifty-two week high of $1,769.14. The company has a market capitalization of $31.63 billion, a PE ratio of 69.79 and a beta of 1.69.

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Texas Pacific Land (NYSE:TPL - Get Free Report) last issued 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 company had revenue of $185.78 million for the quarter.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land's payout ratio is currently 32.45%.

About Texas Pacific Land

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.