Nelson Capital Management LLC Makes New Investment in Texas Pacific Land Co. (NYSE:TPL)

Nelson Capital Management LLC bought a new position in Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,815 shares of the financial services provider’s stock, valued at approximately $2,007,000.

Other hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in shares of Texas Pacific Land by 3.8% during the third quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock worth $674,727,000 after purchasing an additional 27,884 shares during the last quarter. Geode Capital Management LLC raised its stake in Texas Pacific Land by 21.5% in the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after purchasing an additional 81,974 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Texas Pacific Land by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock worth $120,694,000 after acquiring an additional 1,984 shares during the last quarter. Douglass Winthrop Advisors LLC increased its holdings in shares of Texas Pacific Land by 3.5% in the third quarter. Douglass Winthrop Advisors LLC now owns 99,198 shares of the financial services provider’s stock valued at $87,764,000 after purchasing an additional 3,363 shares during the last quarter. Finally, York GP Ltd. acquired a new position in shares of Texas Pacific Land during the 4th quarter valued at about $101,859,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Down 0.4 %

Shares of TPL opened at $1,288.37 on Wednesday. Texas Pacific Land Co. has a 12-month low of $493.40 and a 12-month high of $1,769.14. The company’s 50-day moving average price is $1,290.28 and its 200 day moving average price is $1,162.41. The firm has a market cap of $29.61 billion, a P/E ratio of 65.33 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 (EPS) for the quarter. The company 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $1.60 per share. The ex-dividend date is Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.50%. Texas Pacific Land’s payout ratio is 32.45%.

Texas Pacific Land 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.