Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in Texas Pacific Land Co. (NYSE:TPL) by 22.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,889 shares of the financial services provider’s stock after selling 42,796 shares during the period. Bank of New York Mellon Corp owned about 0.65% of Texas Pacific Land worth $164,665,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Hilltop Holdings Inc. grew its holdings in shares of Texas Pacific Land by 290.3% during the third quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock valued at $1,606,000 after buying an additional 1,350 shares in the last quarter. Quantinno Capital Management LP boosted its position in Texas Pacific Land by 63.5% during the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock worth $2,634,000 after acquiring an additional 1,156 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Texas Pacific Land by 5.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock valued at $7,864,000 after acquiring an additional 431 shares in the last quarter. Biltmore Family Office LLC acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at about $337,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of Texas Pacific Land in the fourth quarter worth approximately $641,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

TPL stock opened at $1,358.59 on Friday. The stock has a market cap of $31.23 billion, a P/E ratio of 68.89 and a beta of 1.68. The firm has a 50 day simple moving average of $1,300.20 and a 200 day simple moving average of $1,165.06. Texas Pacific Land Co. has a 52 week low of $493.40 and a 52 week high of $1,769.14.

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

Texas Pacific Land Dividend Announcement

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 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 0.47%. Texas Pacific Land’s payout ratio 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.