Texas Pacific Land Co. (NYSE:TPL) Stock Holdings Lifted by State of Michigan Retirement System

State of Michigan Retirement System raised its position in Texas Pacific Land Co. (NYSE:TPL) by 8.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,100 shares of the financial services provider’s stock after buying an additional 500 shares during the quarter. State of Michigan Retirement System’s holdings in Texas Pacific Land were worth $6,746,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Caprock Group LLC grew its stake in Texas Pacific Land by 3.0% in the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 8 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Texas Pacific Land by 21.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 12 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Texas Pacific Land by 3.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 13 shares in the last quarter. Peloton Wealth Strategists boosted its stake in shares of Texas Pacific Land by 1.8% during the 3rd quarter. Peloton Wealth Strategists now owns 1,271 shares of the financial services provider’s stock worth $1,125,000 after acquiring an additional 23 shares in the last quarter. Finally, Mutual Advisors LLC boosted its stake in shares of Texas Pacific Land by 1.1% during the 4th quarter. Mutual Advisors LLC now owns 2,144 shares of the financial services provider’s stock worth $2,371,000 after acquiring an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

TPL opened at $1,302.54 on Friday. The company has a market cap of $29.94 billion, a PE ratio of 66.05 and a beta of 1.68. The stock has a 50-day moving average of $1,318.72 and a 200-day moving average of $1,182.98. Texas Pacific Land Co. has a 52-week low of $493.97 and a 52-week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The company 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 declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $1.60 per share. The ex-dividend date is Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 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.