Gulf International Bank UK Ltd Trims Stake in Texas Pacific Land Co. (NYSE:TPL)

Gulf International Bank UK Ltd reduced its position in Texas Pacific Land Co. (NYSE:TPL) by 1.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,453 shares of the financial services provider’s stock after selling 26 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Texas Pacific Land were worth $1,606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. New York Life Investment Management LLC purchased a new position in shares of Texas Pacific Land in the 4th quarter worth about $2,796,000. SRN Advisors LLC purchased a new position in shares of Texas Pacific Land in the 4th quarter worth about $209,000. Nelson Capital Management LLC purchased a new position in shares of Texas Pacific Land in the 4th quarter worth about $2,007,000. Sprott Inc. boosted its holdings in shares of Texas Pacific Land by 26.5% in the 4th quarter. Sprott Inc. now owns 8,080 shares of the financial services provider’s stock worth $8,936,000 after purchasing an additional 1,695 shares in the last quarter. Finally, Acorn Wealth Advisors LLC purchased a new position in shares of Texas Pacific Land in the 4th quarter worth about $224,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Up 5.5 %

TPL opened at $1,430.68 on Friday. The stock has a 50-day moving average price of $1,306.15 and a 200-day moving average price of $1,171.65. Texas Pacific Land Co. has a 12-month low of $493.40 and a 12-month high of $1,769.14. The stock has a market capitalization of $32.88 billion, a P/E ratio of 72.55 and a beta of 1.68.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share 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 Announces Dividend

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 dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land’s dividend 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.