Waverton Investment Management Ltd Sells 6,844 Shares of Texas Pacific Land Co. (NYSE:TPL)

Waverton Investment Management Ltd trimmed its position in Texas Pacific Land Co. (NYSE:TPL) by 48.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,322 shares of the financial services provider’s stock after selling 6,844 shares during the period. Waverton Investment Management Ltd’s holdings in Texas Pacific Land were worth $8,109,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TPL. Capital Performance Advisors LLP bought a new stake in shares of Texas Pacific Land during the third quarter valued at approximately $25,000. Quest Partners LLC acquired a new stake in Texas Pacific Land in the 3rd quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Texas Pacific Land during the 4th quarter valued at $66,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in 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 last quarter. Finally, Signaturefd LLC lifted its stake in shares of Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after buying an additional 13 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $1,346.26 on Monday. Texas Pacific Land Co. has a 1 year low of $493.40 and a 1 year high of $1,769.14. The stock has a market capitalization of $30.94 billion, a P/E ratio of 68.27 and a beta of 1.68. The company has a 50-day moving average price of $1,287.07 and a 200-day moving average price of $1,155.83.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 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 business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, March 3rd. Texas Pacific Land’s payout ratio is currently 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.