Transcend Capital Advisors LLC Lowers Position in Texas Pacific Land Co. (NYSE:TPL)

Transcend Capital Advisors LLC reduced its stake in Texas Pacific Land Co. (NYSE:TPL) by 3.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 555 shares of the financial services provider’s stock after selling 17 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Texas Pacific Land were worth $614,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Caprock Group LLC raised its holdings in shares of Texas Pacific Land by 3.0% in the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 8 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after buying an additional 12 shares during the last quarter. Signaturefd LLC increased its position in shares of Texas Pacific Land by 16.9% during the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 13 shares during the last quarter. Glenmede Trust Co. NA increased its position in shares of Texas Pacific Land by 3.0% during the third quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock valued at $390,000 after acquiring an additional 13 shares during the last quarter. Finally, First Financial Bankshares Inc increased its position in shares of Texas Pacific Land by 2.2% during the third quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock valued at $667,000 after acquiring an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock opened at $1,346.26 on Friday. The firm has a market cap of $30.94 billion, a PE ratio of 68.27 and a beta of 1.68. 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 fifty day moving average price of $1,287.07 and a 200-day moving average price of $1,153.16.

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

Texas Pacific Land Dividend Announcement

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 paid a dividend of $1.60 per share. The ex-dividend date is Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.48%. 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.