New York Life Investment Management LLC Makes New Investment in Texas Pacific Land Co. (NYSE:TPL)

New York Life Investment Management LLC acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 2,528 shares of the financial services provider’s stock, valued at approximately $2,796,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hilltop Holdings Inc. grew its stake in Texas Pacific Land by 290.3% during the third quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock valued at $1,606,000 after acquiring an additional 1,350 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Texas Pacific Land by 63.5% during the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock valued at $2,634,000 after purchasing an additional 1,156 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Texas Pacific Land by 5.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock valued at $7,864,000 after purchasing an additional 431 shares in the last quarter. Biltmore Family Office LLC bought a new stake in shares of Texas Pacific Land in the third quarter worth about $337,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of Texas Pacific Land in the fourth quarter worth about $641,000. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 5.5 %

Shares of Texas Pacific Land stock opened at $1,430.68 on Monday. Texas Pacific Land Co. has a 12 month low of $493.40 and a 12 month high of $1,769.14. The stock has a 50 day moving average of $1,306.15 and a 200 day moving average of $1,174.13. The firm has a market cap of $32.88 billion, a PE ratio of 72.55 and a beta of 1.68.

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

Texas Pacific Land Announces Dividend

The firm also recently announced 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 0.45%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 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.