Ieq Capital LLC Lowers Holdings in Texas Pacific Land Co. (NYSE:TPL)

Ieq Capital LLC lessened its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 8.7% during the 4th quarter, Holdings Channel reports. The firm owned 241 shares of the financial services provider’s stock after selling 23 shares during the period. Ieq Capital LLC’s holdings in Texas Pacific Land were worth $267,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in TPL. Capital Performance Advisors LLP bought a new stake in shares of Texas Pacific Land during the third quarter valued at approximately $25,000. Quest Partners LLC purchased a new position in Texas Pacific Land during the third quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Texas Pacific Land in the 4th quarter valued at $66,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 12 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Texas Pacific Land by 32.7% during the 4th quarter. GAMMA Investing LLC now owns 150 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 37 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Up 5.5 %

Shares of TPL stock opened at $1,430.68 on Friday. The stock has a market capitalization of $32.88 billion, a price-to-earnings ratio of 72.55 and a beta of 1.68. Texas Pacific Land Co. has a 12-month low of $493.40 and a 12-month high of $1,769.14. The stock’s 50-day moving average price is $1,306.15 and its 200-day moving average price is $1,169.21.

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 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 Announces Dividend

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