Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Edge Capital Group LLC

Edge Capital Group LLC cut its position in Texas Pacific Land Co. (NYSE:TPL) by 75.3% during the fourth quarter, HoldingsChannel reports. The firm owned 246 shares of the financial services provider’s stock after selling 750 shares during the quarter. Edge Capital Group LLC’s holdings in Texas Pacific Land were worth $272,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Texas Pacific Land during the fourth quarter worth $3,907,000. World Equity Group Inc. lifted its holdings in Texas Pacific Land by 92.0% during the 4th quarter. World Equity Group Inc. now owns 5,304 shares of the financial services provider’s stock worth $5,866,000 after buying an additional 2,542 shares during the last quarter. MONECO Advisors LLC boosted its position in shares of Texas Pacific Land by 62.4% during the 4th quarter. MONECO Advisors LLC now owns 492 shares of the financial services provider’s stock worth $544,000 after acquiring an additional 189 shares in the last quarter. WESPAC Advisors LLC purchased a new position in shares of Texas Pacific Land in the 4th quarter valued at about $507,000. Finally, Wealthspire Advisors LLC raised its position in shares of Texas Pacific Land by 6.1% during the 4th quarter. Wealthspire Advisors LLC now owns 794 shares of the financial services provider’s stock worth $878,000 after acquiring an additional 46 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Down 3.8 %

TPL stock opened at $1,294.74 on Tuesday. The business has a 50 day moving average price of $1,288.58 and a 200 day moving average price of $1,159.12. The stock has a market cap of $29.76 billion, a price-to-earnings ratio of 65.66 and a beta of 1.68. Texas Pacific Land Co. has a fifty-two week low of $493.40 and a fifty-two week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data 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 business had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $1.60 dividend. The ex-dividend date is Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.49%. Texas Pacific Land’s dividend payout ratio 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.