Acorn Wealth Advisors LLC Makes New $224,000 Investment in Texas Pacific Land Co. (NYSE:TPL)

Acorn Wealth Advisors LLC bought a new stake in Texas Pacific Land Co. (NYSE:TPL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 203 shares of the financial services provider’s stock, valued at approximately $224,000.

Several other large investors have also modified their holdings of the stock. State Street Corp increased its stake in Texas Pacific Land by 3.8% in the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock valued at $674,727,000 after buying an additional 27,884 shares during the period. Geode Capital Management LLC increased its stake in shares of Texas Pacific Land by 21.5% during the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock worth $411,943,000 after acquiring an additional 81,974 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Texas Pacific Land by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock worth $120,694,000 after acquiring an additional 1,984 shares during the period. Douglass Winthrop Advisors LLC raised its holdings in Texas Pacific Land by 3.5% during the third quarter. Douglass Winthrop Advisors LLC now owns 99,198 shares of the financial services provider’s stock worth $87,764,000 after purchasing an additional 3,363 shares in the last quarter. Finally, York GP Ltd. acquired a new stake in Texas Pacific Land in the fourth quarter valued at about $101,859,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 0.4 %

NYSE TPL opened at $1,288.37 on Wednesday. The stock has a market capitalization of $29.61 billion, a price-to-earnings ratio of 65.33 and a beta of 1.68. The business’s 50 day moving average is $1,290.28 and its two-hundred day moving average is $1,162.41. 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 announced its quarterly earnings data 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 for the quarter.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $1.60 dividend. The ex-dividend date is Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.50%. Texas Pacific Land’s dividend payout ratio is presently 32.45%.

Texas Pacific Land Company 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.