Peloton Wealth Strategists Has $1.21 Million Holdings in Texas Pacific Land Co. (NYSE:TPL)

Peloton Wealth Strategists cut its holdings in Texas Pacific Land Co. (NYSE:TPL) by 14.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,090 shares of the financial services provider’s stock after selling 181 shares during the quarter. Peloton Wealth Strategists’ holdings in Texas Pacific Land were worth $1,205,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in Texas Pacific Land in the fourth quarter valued at about $31,802,000. New York Life Investment Management LLC bought a new position in Texas Pacific Land in the fourth quarter valued at about $2,796,000. SRN Advisors LLC bought a new position in Texas Pacific Land in the fourth quarter valued at about $209,000. Nelson Capital Management LLC bought a new position in Texas Pacific Land in the fourth quarter valued at about $2,007,000. Finally, Sprott Inc. raised its position in Texas Pacific Land by 26.5% in the fourth quarter. Sprott Inc. now owns 8,080 shares of the financial services provider’s stock valued at $8,936,000 after purchasing an additional 1,695 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Trading Up 0.5 %

Texas Pacific Land stock opened at $1,358.59 on Friday. The company has a market capitalization of $31.23 billion, a PE ratio of 68.89 and a beta of 1.68. 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 price of $1,300.20 and a two-hundred day moving average price of $1,165.06.

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

Texas Pacific Land Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.47%. Texas Pacific Land’s dividend payout ratio (DPR) 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.