Texas Pacific Land Co. (NYSE:TPL) is Stegent Equity Advisors Inc.’s 5th Largest Position

Stegent Equity Advisors Inc. reduced its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 19.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,121 shares of the financial services provider’s stock after selling 768 shares during the period. Texas Pacific Land accounts for approximately 3.5% of Stegent Equity Advisors Inc.’s investment portfolio, making the stock its 5th largest holding. Stegent Equity Advisors Inc.’s holdings in Texas Pacific Land were worth $3,451,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. York GP Ltd. purchased a new stake in shares of Texas Pacific Land during the fourth quarter worth about $101,859,000. Geode Capital Management LLC grew its holdings in shares of Texas Pacific Land by 21.5% during the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock worth $411,943,000 after buying an additional 81,974 shares in the last quarter. State Street Corp grew its holdings in shares of Texas Pacific Land by 3.8% during the third quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock worth $674,727,000 after buying an additional 27,884 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Texas Pacific Land during the third quarter worth about $12,928,000. Finally, Chevy Chase Trust Holdings LLC purchased a new stake in shares of Texas Pacific Land during the fourth quarter worth about $10,934,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $1,348.52 on Thursday. The company has a market cap of $31.00 billion, a PE ratio of 68.38 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 company has a 50-day simple moving average of $1,294.96 and a 200-day simple moving average of $1,163.71.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS 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 announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $1.60 dividend. The ex-dividend date is Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. Texas Pacific Land’s 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.