Norden Group LLC Acquires New Position in Texas Pacific Land Co. (NYSE:TPL)

Norden Group LLC acquired a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 248 shares of the financial services provider's stock, valued at approximately $274,000.

A number of other large investors also recently modified their holdings of TPL. Metis Global Partners LLC grew its position in shares of Texas Pacific Land by 160.1% in the 4th quarter. Metis Global Partners LLC now owns 645 shares of the financial services provider's stock valued at $713,000 after buying an additional 397 shares during the last quarter. West Michigan Advisors LLC purchased a new position in shares of Texas Pacific Land in the 4th quarter valued at $227,000. Fisher Asset Management LLC purchased a new position in shares of Texas Pacific Land in the 4th quarter valued at $380,000. Hosking Partners LLP grew its position in shares of Texas Pacific Land by 28.3% in the 4th quarter. Hosking Partners LLP now owns 11,039 shares of the financial services provider's stock valued at $12,209,000 after buying an additional 2,436 shares during the last quarter. Finally, Bouchey Financial Group Ltd purchased a new position in shares of Texas Pacific Land in the 4th quarter valued at $213,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

Texas Pacific Land stock traded up $71.21 during midday trading on Friday, hitting $1,376.19. 137,869 shares of the company's 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 cap of $31.63 billion, a price-to-earnings ratio of 69.79 and a beta of 1.69. The firm's 50 day simple moving average is $1,321.43 and its 200 day simple moving average is $1,183.82.

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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 Dividend Announcement

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 paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, March 3rd. Texas Pacific Land's dividend payout ratio (DPR) is presently 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.