Texas Pacific Land Co. (NYSE:TPL) is Horizon Kinetics Asset Management LLC’s Largest Position

Horizon Kinetics Asset Management LLC reduced its position in Texas Pacific Land Co. (NYSE:TPL) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,606,579 shares of the financial services provider’s stock after selling 87,786 shares during the period. Texas Pacific Land comprises approximately 49.7% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its largest position. Horizon Kinetics Asset Management LLC owned approximately 15.69% of Texas Pacific Land worth $3,988,732,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. KBC Group NV raised its stake in Texas Pacific Land by 41.4% during the 3rd quarter. KBC Group NV now owns 1,455 shares of the financial services provider’s stock valued at $1,288,000 after buying an additional 426 shares during the last quarter. Metis Global Partners LLC purchased a new stake in Texas Pacific Land during the 3rd quarter valued at $219,000. CIBC Asset Management Inc raised its stake in Texas Pacific Land by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 797 shares of the financial services provider’s stock valued at $705,000 after buying an additional 41 shares during the last quarter. RiverPark Advisors LLC raised its stake in Texas Pacific Land by 6.8% during the 3rd quarter. RiverPark Advisors LLC now owns 787 shares of the financial services provider’s stock valued at $696,000 after buying an additional 50 shares during the last quarter. Finally, Gilbert & Cook Inc. raised its stake in Texas Pacific Land by 114.6% during the 3rd quarter. Gilbert & Cook Inc. now owns 3,966 shares of the financial services provider’s stock valued at $3,509,000 after buying an additional 2,118 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Up 5.2 %

Shares of TPL opened at $1,319.96 on Monday. The firm has a market cap of $30.34 billion, a PE ratio of 66.93 and a beta of 1.68. The firm has a fifty day simple moving average of $1,343.50 and a two-hundred day simple moving average of $1,208.86. Texas Pacific Land Co. has a 1-year low of $547.00 and a 1-year high of $1,769.14.

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

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $1.60 dividend. The ex-dividend date is Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.48%. Texas Pacific Land’s dividend payout ratio (DPR) 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.