WESPAC Advisors LLC Acquires Shares of 458 Texas Pacific Land Co. (NYSE:TPL)

WESPAC Advisors LLC acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 458 shares of the financial services provider’s stock, valued at approximately $507,000.

Several other institutional investors and hedge funds have also bought and sold shares of TPL. York GP Ltd. acquired a new stake in Texas Pacific Land during the 4th quarter valued at approximately $101,859,000. Geode Capital Management LLC lifted its stake in Texas Pacific Land by 21.5% during 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 acquiring an additional 81,974 shares during the period. International Assets Investment Management LLC acquired a new stake in Texas Pacific Land during the 3rd quarter valued at approximately $45,400,000. State Street Corp lifted its stake in Texas Pacific Land by 3.8% during the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock valued at $674,727,000 after acquiring an additional 27,884 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Texas Pacific Land during the 3rd quarter valued at approximately $12,928,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

NYSE:TPL opened at $1,346.26 on Friday. The firm has a market cap of $30.94 billion, a price-to-earnings ratio of 68.27 and a beta of 1.68. The company has a 50 day moving average price of $1,287.07 and a 200-day moving average price of $1,153.16. Texas Pacific Land Co. has a 1-year low of $493.40 and a 1-year high of $1,769.14.

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

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $1.60 per share. 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 dividend payout ratio (DPR) is 32.45%.

Texas Pacific Land Company Profile

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.