Jacobi Capital Management LLC Reduces Position in Texas Pacific Land Co. (NYSE:TPL)

Jacobi Capital Management LLC cut its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 520 shares of the financial services provider’s stock after selling 30 shares during the period. Jacobi Capital Management LLC’s holdings in Texas Pacific Land were worth $575,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Metis Global Partners LLC boosted its stake in shares of Texas Pacific Land by 160.1% during the 4th quarter. Metis Global Partners LLC now owns 645 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 397 shares during the period. West Michigan Advisors LLC purchased a new stake in Texas Pacific Land in the 4th quarter valued at about $227,000. Fisher Asset Management LLC purchased a new stake in Texas Pacific Land in the 4th quarter valued at about $380,000. Hosking Partners LLP boosted its position in Texas Pacific Land by 28.3% in the 4th quarter. Hosking Partners LLP now owns 11,039 shares of the financial services provider’s stock valued at $12,209,000 after buying an additional 2,436 shares during the period. Finally, Bouchey Financial Group Ltd purchased a new stake in Texas Pacific Land in the 4th quarter valued at about $213,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $1,430.68 on Monday. The stock has a market cap of $32.88 billion, a price-to-earnings ratio of 72.55 and a beta of 1.68. Texas Pacific Land Co. has a 1 year low of $493.40 and a 1 year high of $1,769.14. The firm has a 50-day moving average of $1,306.15 and a two-hundred day moving average of $1,174.13.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data 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 net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $1.60 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.45%. Texas Pacific Land’s payout ratio 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.