Sequoia Financial Advisors LLC Reduces Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Sequoia Financial Advisors LLC cut its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,136 shares of the financial services provider's stock after selling 1,760 shares during the period. Sequoia Financial Advisors LLC owned approximately 0.07% of Texas Pacific Land worth $16,740,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in TPL. Assetmark Inc. purchased a new position in Texas Pacific Land in the fourth quarter valued at about $29,000. Quest Partners LLC acquired a new stake in shares of Texas Pacific Land in the third quarter valued at approximately $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at approximately $66,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Texas Pacific Land by 21.1% in the fourth 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 stake in shares of Texas Pacific Land in the fourth quarter valued at approximately $87,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

TPL stock opened at $1,349.47 on Thursday. The company's 50 day simple moving average is $1,339.88 and its 200-day simple moving average is $1,200.57. The firm has a market capitalization of $31.02 billion, a PE ratio of 68.43 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 results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The business had revenue of $185.78 million for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Announces Dividend

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

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