Acorn Wealth Advisors LLC bought a new position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 203 shares of the financial services provider's stock, valued at approximately $224,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Texas Pacific Land in the third quarter valued at approximately $25,000. Quest Partners LLC purchased a new position in shares of Texas Pacific Land in the 3rd quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Texas Pacific Land during the 4th quarter worth $66,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in Texas Pacific Land by 21.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock valued at $76,000 after acquiring an additional 12 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new position in Texas Pacific Land in the fourth quarter valued at $87,000. Institutional investors and hedge funds own 59.94% of the company's stock.
Shares of TPL stock opened at $1,288.37 on Wednesday. Texas Pacific Land Co. has a 1 year low of $493.40 and a 1 year high of $1,769.14. The firm has a market cap of $29.61 billion, a price-to-earnings ratio of 65.33 and a beta of 1.68. The stock's 50-day moving average is $1,290.28 and its two-hundred day moving average is $1,162.41.
Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The company had revenue of $185.78 million for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.
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 given a $1.60 dividend. The ex-dividend date is Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.50%. Texas Pacific Land's dividend payout ratio (DPR) is 32.45%.
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.
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