Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Verus Capital Partners LLC

Verus Capital Partners LLC lessened its stake in Texas Pacific Land Co. (NYSE:TPL) by 10.3% in the 4th quarter, Holdings Channel reports. The firm owned 806 shares of the financial services provider’s stock after selling 93 shares during the period. Verus Capital Partners LLC’s holdings in Texas Pacific Land were worth $891,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caprock Group LLC grew its stake 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 buying an additional 8 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position 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 acquiring an additional 12 shares in the last quarter. Glenmede Trust Co. NA increased its stake in 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 worth $390,000 after purchasing an additional 13 shares during the period. Peloton Wealth Strategists increased its stake in Texas Pacific Land by 1.8% during the third quarter. Peloton Wealth Strategists now owns 1,271 shares of the financial services provider’s stock worth $1,125,000 after purchasing an additional 23 shares during the period. Finally, Mutual Advisors LLC lifted its position in shares of Texas Pacific Land by 1.1% during the fourth quarter. Mutual Advisors LLC now owns 2,144 shares of the financial services provider’s stock worth $2,371,000 after purchasing an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $1,430.68 on Friday. Texas Pacific Land Co. has a fifty-two week low of $493.40 and a fifty-two week high of $1,769.14. The company has a 50 day moving average price of $1,306.15 and a 200 day moving average price of $1,169.21. The stock has a market capitalization of $32.88 billion, a P/E ratio of 72.55 and a beta of 1.68.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 0.45%. The ex-dividend date is Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is currently 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.