Meridian Wealth Management LLC Invests $250,000 in Texas Pacific Land Co. (NYSE:TPL)

Meridian Wealth Management LLC purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 226 shares of the financial services provider’s stock, valued at approximately $250,000.

Several other institutional investors have also modified their holdings of TPL. Janney Montgomery Scott LLC purchased a new position in shares of Texas Pacific Land during the 3rd quarter worth $12,928,000. Van ECK Associates Corp increased its position in shares of Texas Pacific Land by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 4,669 shares of the financial services provider’s stock worth $4,131,000 after purchasing an additional 463 shares during the last quarter. Forum Financial Management LP acquired a new stake in shares of Texas Pacific Land during the 3rd quarter worth about $238,000. National Pension Service increased its position in shares of Texas Pacific Land by 18.9% during the 3rd quarter. National Pension Service now owns 40,190 shares of the financial services provider’s stock worth $35,558,000 after purchasing an additional 6,390 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Texas Pacific Land by 1.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 7,085 shares of the financial services provider’s stock worth $6,268,000 after purchasing an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 0.0 %

Shares of NYSE:TPL opened at $1,367.19 on Thursday. The business has a 50-day moving average price of $1,318.72 and a 200 day moving average price of $1,182.98. The company has a market capitalization of $31.42 billion, a price-to-earnings ratio of 69.33 and a beta of 1.68. Texas Pacific Land Co. has a 12-month low of $493.40 and a 12-month high of $1,769.14.

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

Texas Pacific Land Dividend Announcement

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 given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. 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.