Private Advisor Group LLC Acquires 178 Shares of Texas Pacific Land Co. (NYSE:TPL)

Private Advisor Group LLC lifted its holdings in Texas Pacific Land Co. (NYSE:TPL) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,835 shares of the financial services provider’s stock after buying an additional 178 shares during the period. Private Advisor Group LLC’s holdings in Texas Pacific Land were worth $4,242,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TPL. Signaturefd LLC grew its holdings in Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 13 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Texas Pacific Land during the 3rd quarter valued at about $45,400,000. IFM Investors Pty Ltd increased its holdings in shares of Texas Pacific Land by 43.3% in the 3rd quarter. IFM Investors Pty Ltd now owns 5,082 shares of the financial services provider’s stock valued at $4,496,000 after acquiring an additional 1,536 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Texas Pacific Land in the 3rd quarter worth $331,000. Finally, Mediolanum International Funds Ltd raised its stake in shares of Texas Pacific Land by 249.1% during the 3rd quarter. Mediolanum International Funds Ltd now owns 4,531 shares of the financial services provider’s stock worth $4,013,000 after acquiring an additional 3,233 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $1,346.26 on Monday. Texas Pacific Land Co. has a 1-year low of $493.40 and a 1-year high of $1,769.14. The company has a market cap of $30.94 billion, a price-to-earnings ratio of 68.27 and a beta of 1.68. The stock’s fifty day moving average price is $1,287.07 and its 200 day moving average price is $1,155.83.

Texas Pacific Land (NYSE:TPL) last released 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 business had revenue of $185.78 million during 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 dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 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.