Oregon Public Employees Retirement Fund Reduces Stake in Texas Pacific Land Co. (NYSE:TPL)

Oregon Public Employees Retirement Fund lowered its holdings in Texas Pacific Land Co. (NYSE:TPL) by 57.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,615 shares of the financial services provider’s stock after selling 2,137 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Texas Pacific Land were worth $1,786,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TPL. York GP Ltd. purchased a new position in shares of Texas Pacific Land in the 4th quarter valued at about $101,859,000. Geode Capital Management LLC grew its stake in Texas Pacific Land by 21.5% during the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock worth $411,943,000 after buying an additional 81,974 shares during the last quarter. State Street Corp grew its stake in Texas Pacific Land by 3.8% during the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock worth $674,727,000 after buying an additional 27,884 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Texas Pacific Land during the 3rd quarter worth approximately $12,928,000. Finally, Chevy Chase Trust Holdings LLC purchased a new position in Texas Pacific Land during the 4th quarter worth approximately $10,934,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 5.5 %

NYSE:TPL opened at $1,430.68 on Friday. The stock’s 50 day moving average price is $1,306.15 and its 200 day moving average price is $1,169.21. The company has a market capitalization of $32.88 billion, a PE ratio of 72.55 and a beta of 1.68. 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 posted 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 company had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The business also recently disclosed 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 0.45%. 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.