HighTower Advisors LLC Lowers Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

HighTower Advisors LLC cut its holdings in Texas Pacific Land Co. (NYSE:TPL) by 7.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 29,746 shares of the financial services provider’s stock after selling 2,485 shares during the period. HighTower Advisors LLC owned 0.13% of Texas Pacific Land worth $32,898,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TPL. State Street Corp grew its holdings in Texas Pacific Land by 3.8% in the third quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock valued at $674,727,000 after purchasing an additional 27,884 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Texas Pacific Land by 21.5% in the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after purchasing an additional 81,974 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Texas Pacific Land by 31.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider’s stock valued at $198,669,000 after buying an additional 43,217 shares during the period. Douglass Winthrop Advisors LLC increased its holdings in shares of Texas Pacific Land by 3.5% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 99,198 shares of the financial services provider’s stock worth $87,764,000 after buying an additional 3,363 shares during the last quarter. Finally, York GP Ltd. acquired a new stake in shares of Texas Pacific Land during the 4th quarter worth $101,859,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 5.2 %

Shares of Texas Pacific Land stock opened at $1,319.96 on Friday. The stock has a market capitalization of $30.34 billion, a P/E ratio of 66.93 and a beta of 1.68. The business’s fifty day moving average price is $1,343.50 and its 200 day moving average price is $1,204.10. Texas Pacific Land Co. has a twelve month low of $547.00 and a twelve month high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The business had revenue of $185.78 million for 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 firm 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 $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, March 3rd. Texas Pacific Land’s payout ratio is currently 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.