Plato Investment Management Ltd Acquires Shares of 1,312 Texas Pacific Land Co. (NYSE:TPL)

Plato Investment Management Ltd acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,312 shares of the financial services provider’s stock, valued at approximately $1,456,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TPL. Jones Financial Companies Lllp increased its holdings in shares of Texas Pacific Land by 2,575.0% during the fourth quarter. Jones Financial Companies Lllp now owns 107 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 103 shares in the last quarter. Norden Group LLC bought a new position in shares of Texas Pacific Land during the fourth quarter valued at $274,000. Metis Global Partners LLC increased its holdings in shares of Texas Pacific Land by 160.1% during the fourth quarter. Metis Global Partners LLC now owns 645 shares of the financial services provider’s stock valued at $713,000 after acquiring an additional 397 shares in the last quarter. West Michigan Advisors LLC bought a new position in shares of Texas Pacific Land during the fourth quarter valued at $227,000. Finally, Fisher Asset Management LLC bought a new position in shares of Texas Pacific Land during the fourth quarter valued at $380,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $1,354.88 on Tuesday. Texas Pacific Land Co. has a 1-year low of $493.40 and a 1-year high of $1,769.14. The business has a fifty day moving average price of $1,310.46 and a 200-day moving average price of $1,177.84. The company has a market capitalization of $31.14 billion, a PE ratio of 68.71 and a beta of 1.68.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results 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 firm had revenue of $185.78 million during the quarter.

Texas Pacific Land Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.47%. Texas Pacific Land’s payout ratio is 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.