Bradley Foster & Sargent Inc. CT Cuts Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Bradley Foster & Sargent Inc. CT cut its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 31.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,890 shares of the financial services provider’s stock after selling 857 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Texas Pacific Land were worth $2,090,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hilltop Holdings Inc. raised its position in shares of Texas Pacific Land by 290.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock worth $1,606,000 after purchasing an additional 1,350 shares during the last quarter. Quantinno Capital Management LP increased its stake in Texas Pacific Land by 63.5% during the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock worth $2,634,000 after buying an additional 1,156 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Texas Pacific Land by 5.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock valued at $7,864,000 after acquiring an additional 431 shares during the last quarter. Biltmore Family Office LLC purchased a new position in shares of Texas Pacific Land in the third quarter valued at approximately $337,000. Finally, Everence Capital Management Inc. acquired a new stake in shares of Texas Pacific Land in the fourth quarter worth approximately $641,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

Shares of TPL opened at $1,346.26 on Friday. The stock has a 50 day moving average price of $1,287.07 and a 200 day moving average price of $1,150.51. The stock has a market capitalization of $30.95 billion, a price-to-earnings ratio of 68.27 and a beta of 1.68. Texas Pacific Land Co. has a one year low of $493.40 and a one year high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The business 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 0.48%. 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.