Victory Capital Management Inc. Sells 1,946 Shares of Texas Pacific Land Co. (NYSE:TPL)

Victory Capital Management Inc. lowered its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 15.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,364 shares of the financial services provider's stock after selling 1,946 shares during the quarter. Victory Capital Management Inc.'s holdings in Texas Pacific Land were worth $11,462,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Quest Partners LLC acquired a new stake in shares of Texas Pacific Land during the 3rd quarter worth approximately $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Texas Pacific Land during the fourth quarter worth $66,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of 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 in the last quarter. Sentry Investment Management LLC acquired a new stake in shares of Texas Pacific Land in the 4th quarter valued at $87,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Texas Pacific Land by 2,575.0% in the 4th quarter. Jones Financial Companies Lllp now owns 107 shares of the financial services provider's stock valued at $118,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Down 7.1 %

Shares of TPL stock opened at $1,252.20 on Friday. The business has a fifty day simple moving average of $1,339.88 and a 200 day simple moving average of $1,200.57. The company has a market cap of $28.78 billion, a P/E ratio of 63.50 and a beta of 1.68. Texas Pacific Land Co. has a twelve month low of $540.00 and a twelve month high of $1,769.14.

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

Texas Pacific Land Announces Dividend

The business 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 $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land's payout ratio is 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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