National Pension Service Cuts Stock Position in Texas Pacific Land Co. (NYSE:TPL)

National Pension Service cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 13.2% during the fourth quarter, Holdings Channel reports. The firm owned 34,890 shares of the financial services provider’s stock after selling 5,300 shares during the quarter. National Pension Service’s holdings in Texas Pacific Land were worth $38,587,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of Texas Pacific Land during the third quarter worth approximately $25,000. Quest Partners LLC purchased a new stake in shares of Texas Pacific Land during the third quarter worth approximately $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Texas Pacific Land during the fourth quarter worth approximately $66,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after buying an additional 12 shares during the period. Finally, Sentry Investment Management LLC purchased a new stake in shares of Texas Pacific Land during the fourth quarter worth approximately $87,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

TPL stock opened at $1,430.68 on Friday. The company’s 50 day moving average price is $1,306.15 and its 200 day moving average price is $1,169.21. Texas Pacific Land Co. has a fifty-two week low of $493.40 and a fifty-two week high of $1,769.14. The firm has a market capitalization of $32.88 billion, a price-to-earnings ratio of 72.55 and a beta of 1.68.

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

Texas Pacific Land Dividend Announcement

The firm 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 $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) 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.