US Bancorp DE decreased its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,207 shares of the financial services provider's stock after selling 1,521 shares during the period. US Bancorp DE owned about 0.09% of Texas Pacific Land worth $22,348,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC acquired a new position in Texas Pacific Land in the fourth quarter valued at about $380,000. Hosking Partners LLP grew its position in Texas Pacific Land by 28.3% during the 4th quarter. Hosking Partners LLP now owns 11,039 shares of the financial services provider's stock worth $12,209,000 after acquiring an additional 2,436 shares during the last quarter. Bouchey Financial Group Ltd acquired a new stake in Texas Pacific Land during the 4th quarter valued at $213,000. Proficio Capital Partners LLC bought a new position in Texas Pacific Land in the 4th quarter valued at $31,802,000. Finally, New York Life Investment Management LLC acquired a new position in Texas Pacific Land in the fourth quarter worth $2,796,000. 59.94% of the stock is owned by institutional investors and hedge funds.
Texas Pacific Land Price Performance
Shares of NYSE:TPL traded down $73.07 during midday trading on Monday, reaching $1,354.88. The company's stock had a trading volume of 178,210 shares, compared to its average volume of 128,780. The business's fifty day simple moving average is $1,310.46 and its 200-day simple moving average is $1,177.84. The company has a market capitalization of $31.14 billion, a P/E ratio of 68.71 and a beta of 1.68. Texas Pacific Land Co. has a fifty-two week low of $493.40 and a fifty-two week high of $1,769.14.
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. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The business had revenue of $185.78 million for the quarter.
Texas Pacific Land Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, March 3rd. Texas Pacific Land's dividend payout ratio is 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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