State of Michigan Retirement System raised its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,100 shares of the financial services provider's stock after acquiring an additional 500 shares during the quarter. State of Michigan Retirement System's holdings in Texas Pacific Land were worth $6,746,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in TPL. Capital Performance Advisors LLP purchased a new position in Texas Pacific Land during the third quarter valued at $25,000. Quest Partners LLC purchased a new position in Texas Pacific Land in the 3rd quarter valued at about $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Texas Pacific Land in the 4th quarter worth about $66,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in Texas Pacific Land by 21.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock worth $76,000 after buying an additional 12 shares in the last quarter. Finally, Sentry Investment Management LLC purchased a new stake in Texas Pacific Land during the 4th quarter worth approximately $87,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.
Texas Pacific Land Stock Down 3.0 %
Shares of NYSE TPL traded down $40.80 during midday trading on Monday, hitting $1,333.95. The stock had a trading volume of 154,028 shares, compared to its average volume of 130,576. The stock has a 50 day simple moving average of $1,326.06 and a 200-day simple moving average of $1,192.68. The company has a market capitalization of $30.66 billion, a PE ratio of 67.64 and a beta of 1.69. Texas Pacific Land Co. has a 1 year low of $503.08 and a 1 year high of $1,769.14.
Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. 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. Investors of record on Monday, March 3rd will be paid a dividend of $1.60 per share. The ex-dividend date is Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.48%. Texas Pacific Land's dividend payout ratio is presently 32.45%.
Texas Pacific Land Profile
(
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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