Ipswich Investment Management Co. Inc. Lowers Position in Texas Pacific Land Co. (NYSE:TPL)

Ipswich Investment Management Co. Inc. trimmed its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,325 shares of the financial services provider’s stock after selling 100 shares during the period. Texas Pacific Land accounts for about 1.2% of Ipswich Investment Management Co. Inc.’s investment portfolio, making the stock its 27th biggest holding. Ipswich Investment Management Co. Inc.’s holdings in Texas Pacific Land were worth $4,783,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of TPL. Caprock Group LLC raised its holdings in shares of Texas Pacific Land by 3.0% during the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 8 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of 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 acquiring an additional 12 shares during the period. Signaturefd LLC raised its holdings in shares of Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 13 shares during the period. Glenmede Trust Co. NA raised its holdings in shares of Texas Pacific Land by 3.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 13 shares during the period. Finally, First Financial Bankshares Inc raised its holdings in shares of Texas Pacific Land by 2.2% during the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock worth $667,000 after acquiring an additional 16 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Down 5.9 %

NYSE TPL opened at $1,346.26 on Friday. Texas Pacific Land Co. has a 52 week low of $493.40 and a 52 week high of $1,769.14. The business’s fifty day simple moving average is $1,287.07 and its 200-day simple moving average is $1,150.51. The firm has a market cap of $30.95 billion, a PE ratio of 68.27 and a beta of 1.68.

Texas Pacific Land (NYSE:TPL) last posted 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 return on equity of 40.23% and a net margin of 64.32%.

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 given a dividend of $1.60 per share. 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 payout ratio is 32.45%.

About Texas Pacific Land

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.