Fairway Wealth LLC Takes Position in Texas Pacific Land Co. (NYSE:TPL)

Fairway Wealth LLC purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 166 shares of the financial services provider’s stock, valued at approximately $184,000.

A number of other hedge funds also recently made changes to their positions in the company. Caprock Group LLC boosted its holdings in Texas Pacific Land by 3.0% during the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock worth $302,000 after buying an additional 8 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake 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 worth $76,000 after buying an additional 12 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Texas Pacific Land by 3.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 13 shares in the last quarter. M&T Bank Corp increased its position in Texas Pacific Land by 2.1% in the 4th quarter. M&T Bank Corp now owns 941 shares of the financial services provider’s stock valued at $1,041,000 after acquiring an additional 19 shares in the last quarter. Finally, Peloton Wealth Strategists boosted its stake in Texas Pacific Land by 1.8% in the third quarter. Peloton Wealth Strategists now owns 1,271 shares of the financial services provider’s stock valued at $1,125,000 after acquiring an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock opened at $1,333.95 on Tuesday. The stock’s 50-day moving average is $1,330.59 and its 200-day moving average is $1,196.23. Texas Pacific Land Co. has a one year low of $503.08 and a one year high of $1,769.14. The firm has a market cap of $30.66 billion, a price-to-earnings ratio of 67.64 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The company had revenue of $185.78 million during the quarter.

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. This represents a $6.40 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 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.