Cookson Peirce & Co. Inc. Invests $466,000 in Texas Pacific Land Co. (NYSE:TPL)

Cookson Peirce & Co. Inc. acquired a new position in Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 421 shares of the financial services provider’s stock, valued at approximately $466,000.

Several other hedge funds and other institutional investors have also modified their holdings of TPL. Janney Montgomery Scott LLC acquired a new stake in shares of Texas Pacific Land in the third quarter worth $12,928,000. Van ECK Associates Corp boosted its stake in Texas Pacific Land by 11.0% during the third quarter. Van ECK Associates Corp now owns 4,669 shares of the financial services provider’s stock worth $4,131,000 after buying an additional 463 shares in the last quarter. Forum Financial Management LP acquired a new stake in Texas Pacific Land during the third quarter worth $238,000. National Pension Service boosted its stake in Texas Pacific Land by 18.9% during the third quarter. National Pension Service now owns 40,190 shares of the financial services provider’s stock worth $35,558,000 after buying an additional 6,390 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Texas Pacific Land by 1.1% during the third quarter. Asset Management One Co. Ltd. now owns 7,085 shares of the financial services provider’s stock worth $6,268,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

TPL opened at $1,367.19 on Thursday. Texas Pacific Land Co. has a fifty-two week low of $493.40 and a fifty-two week high of $1,769.14. The firm’s fifty day moving average price is $1,318.72 and its two-hundred day moving average price is $1,182.98. The company has a market capitalization of $31.42 billion, a P/E ratio of 69.33 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 earnings per share for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The firm had revenue of $185.78 million for the quarter.

Texas Pacific Land Dividend Announcement

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