Sage Mountain Advisors LLC Buys Shares of 822 Texas Pacific Land Co. (NYSE:TPL)

Sage Mountain Advisors LLC purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 822 shares of the financial services provider's stock, valued at approximately $909,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at about $25,000. Crossmark Global Holdings Inc. grew its position in Texas Pacific Land by 23.7% in the third quarter. Crossmark Global Holdings Inc. now owns 1,481 shares of the financial services provider's stock worth $1,310,000 after buying an additional 284 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Texas Pacific Land by 1.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 7,484 shares of the financial services provider's stock worth $6,621,000 after purchasing an additional 81 shares during the period. Entropy Technologies LP acquired a new stake in Texas Pacific Land during the 3rd quarter worth about $973,000. Finally, Waverton Investment Management Ltd lifted its position in shares of Texas Pacific Land by 18.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 14,166 shares of the financial services provider's stock valued at $12,524,000 after acquiring an additional 2,160 shares in the last quarter. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Shares of TPL stock traded up $38.05 on Wednesday, reaching $1,365.48. 51,537 shares of the company's stock traded hands, compared to its average volume of 128,787. The business's 50 day moving average price is $1,335.01 and its two-hundred day moving average price is $1,199.52. The company has a market capitalization of $31.39 billion, a P/E ratio of 69.33 and a beta of 1.68. Texas Pacific Land Co. has a 12-month low of $529.03 and a 12-month high of $1,769.14.

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Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The firm had revenue of $185.78 million during the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend 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 currently 32.45%.

Texas Pacific Land 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.