Daiwa Securities Group Inc. Buys 1,111 Shares of Texas Pacific Land Co. (NYSE:TPL)

Daiwa Securities Group Inc. lifted its stake in Texas Pacific Land Co. (NYSE:TPL) by 71.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,658 shares of the financial services provider’s stock after buying an additional 1,111 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Texas Pacific Land were worth $2,940,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Caprock Group LLC increased its holdings in Texas Pacific Land by 3.0% in the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 8 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Texas Pacific Land by 21.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 12 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Texas Pacific Land by 3.0% in 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 last quarter. M&T Bank Corp lifted its position in shares of Texas Pacific Land by 2.1% in the fourth quarter. M&T Bank Corp now owns 941 shares of the financial services provider’s stock worth $1,041,000 after buying an additional 19 shares in the last quarter. Finally, Peloton Wealth Strategists boosted 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 valued at $1,125,000 after buying an additional 23 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

NYSE:TPL opened at $1,252.20 on Friday. The company has a market cap of $28.78 billion, a price-to-earnings ratio of 63.50 and a beta of 1.68. Texas Pacific Land Co. has a 1 year low of $540.00 and a 1 year high of $1,769.14. The stock’s 50 day simple moving average is $1,339.88 and its two-hundred day simple moving average is $1,200.57.

Texas Pacific Land (NYSE:TPL) last announced its quarterly 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 company had revenue of $185.78 million for the quarter.

Texas Pacific Land Dividend Announcement

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 given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is 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.