Zurcher Kantonalbank Zurich Cantonalbank Buys 2,782 Shares of Texas Pacific Land Co. (NYSE:TPL)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Texas Pacific Land Co. (NYSE:TPL) by 72.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,640 shares of the financial services provider’s stock after acquiring an additional 2,782 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Texas Pacific Land were worth $7,344,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Assetmark Inc. bought a new position in Texas Pacific Land in the fourth quarter worth about $29,000. Quest Partners LLC purchased a new position in shares of Texas Pacific Land in the 3rd quarter worth approximately $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Texas Pacific Land during the 4th quarter worth approximately $66,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 12 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in Texas Pacific Land in the fourth quarter valued at approximately $87,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $1,252.20 on Friday. Texas Pacific Land Co. has a 1-year low of $540.00 and a 1-year high of $1,769.14. The company has a market cap of $28.78 billion, a price-to-earnings ratio of 63.50 and a beta of 1.68. The stock’s fifty day moving average price is $1,339.88 and its 200 day moving average price is $1,200.57.

Texas Pacific Land (NYSE:TPL) last announced 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 business also recently declared 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. This represents a $6.40 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Monday, March 3rd. Texas Pacific Land’s payout ratio is presently 32.45%.

Texas Pacific Land 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.