Securian Asset Management Inc. reduced its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 31.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,023 shares of the financial services provider's stock after selling 463 shares during the period. Securian Asset Management Inc.'s holdings in Texas Pacific Land were worth $1,131,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Assetmark Inc. purchased a new stake in shares of Texas Pacific Land during the 4th quarter worth about $29,000. Quest Partners LLC bought a new position in shares of Texas Pacific Land during the third quarter worth about $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Texas Pacific Land during the fourth quarter worth about $66,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock valued at $76,000 after purchasing an additional 12 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new position in Texas Pacific Land during the 4th quarter valued at about $87,000. Hedge funds and other institutional investors own 59.94% of the company's stock.
Texas Pacific Land Stock Performance
Shares of TPL traded up $23.65 during mid-day trading on Monday, reaching $1,344.72. 36,979 shares of the company's stock traded hands, compared to its average volume of 127,664. The stock has a market capitalization of $30.91 billion, a P/E ratio of 68.18 and a beta of 1.69. Texas Pacific Land Co. has a 12 month low of $553.33 and a 12 month high of $1,769.14. The business's 50-day moving average price is $1,343.50 and its 200-day moving average price is $1,208.86.
Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results 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 firm had revenue of $185.78 million during the quarter.
Texas Pacific Land Announces Dividend
The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land's dividend payout ratio is presently 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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