Ipswich Investment Management Co. Inc. Has $5.63 Million Holdings in Texas Pacific Land Co. (NYSE:TPL)

Ipswich Investment Management Co. Inc. reduced its position in Texas Pacific Land Co. (NYSE:TPL) by 1.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,245 shares of the financial services provider’s stock after selling 80 shares during the period. Texas Pacific Land comprises about 1.4% of Ipswich Investment Management Co. Inc.’s holdings, making the stock its 23rd largest position. Ipswich Investment Management Co. Inc.’s holdings in Texas Pacific Land were worth $5,625,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TPL. Huntington National Bank lifted its position in shares of Texas Pacific Land by 2.8% during the 4th quarter. Huntington National Bank now owns 333 shares of the financial services provider’s stock worth $368,000 after buying an additional 9 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Texas Pacific Land by 13.0% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider’s stock worth $103,000 after buying an additional 9 shares during the period. Signaturefd LLC increased its holdings in Texas Pacific Land by 11.1% during the 4th quarter. Signaturefd LLC now owns 100 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 10 shares in the last quarter. CVA Family Office LLC increased its holdings in Texas Pacific Land by 9.5% during the 1st quarter. CVA Family Office LLC now owns 115 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 10 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Texas Pacific Land by 3.3% during the 1st quarter. Farther Finance Advisors LLC now owns 344 shares of the financial services provider’s stock valued at $465,000 after purchasing an additional 11 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

TPL stock opened at $1,118.22 on Friday. The business has a fifty day moving average price of $1,260.93 and a 200 day moving average price of $1,295.00. Texas Pacific Land Co. has a fifty-two week low of $724.75 and a fifty-two week high of $1,769.14. The stock has a market capitalization of $25.70 billion, a price-to-earnings ratio of 56.71 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing analysts’ consensus estimates of $5.27 by ($0.03). Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The business had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.57%. Texas Pacific Land’s dividend payout ratio is 32.02%.

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.