248 Shares in Texas Pacific Land Co. (NYSE:TPL) Acquired by Norden Group LLC

Norden Group LLC purchased a new position in Texas Pacific Land Co. (NYSE:TPL) in the fourth quarter, Holdings Channel reports. The fund purchased 248 shares of the financial services provider’s stock, valued at approximately $274,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPL. Caprock Group LLC boosted its holdings in shares of Texas Pacific Land by 3.0% in the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 8 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 12 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in Texas Pacific Land by 3.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 13 shares during the period. Peloton Wealth Strategists boosted its stake in Texas Pacific Land by 1.8% during the 3rd quarter. Peloton Wealth Strategists now owns 1,271 shares of the financial services provider’s stock worth $1,125,000 after purchasing an additional 23 shares during the period. Finally, Mutual Advisors LLC grew its position in Texas Pacific Land by 1.1% during the 4th quarter. Mutual Advisors LLC now owns 2,144 shares of the financial services provider’s stock worth $2,371,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL opened at $1,368.19 on Wednesday. Texas Pacific Land Co. has a one year low of $493.40 and a one year high of $1,769.14. The stock has a market capitalization of $31.45 billion, a price-to-earnings ratio of 69.38 and a beta of 1.68. The company has a 50-day simple moving average of $1,314.60 and a 200-day simple moving average of $1,181.69.

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

Texas Pacific Land Dividend Announcement

The business 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 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land’s dividend payout ratio 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.