Truist Financial Corp Has $2.51 Million Position in Texas Pacific Land Co. (NYSE:TPL)

Truist Financial Corp reduced its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 9.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,270 shares of the financial services provider’s stock after selling 237 shares during the quarter. Truist Financial Corp’s holdings in Texas Pacific Land were worth $2,511,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. State Street Corp lifted its stake in Texas Pacific Land by 3.8% in the third quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock valued at $674,727,000 after acquiring an additional 27,884 shares during the last quarter. Geode Capital Management LLC lifted its stake in Texas Pacific Land by 21.5% in the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after acquiring an additional 81,974 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Texas Pacific Land by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock valued at $120,694,000 after acquiring an additional 1,984 shares during the last quarter. Douglass Winthrop Advisors LLC lifted its stake in Texas Pacific Land by 3.5% in the third quarter. Douglass Winthrop Advisors LLC now owns 99,198 shares of the financial services provider’s stock valued at $87,764,000 after acquiring an additional 3,363 shares during the last quarter. Finally, York GP Ltd. acquired a new stake in Texas Pacific Land in the fourth quarter valued at approximately $101,859,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Down 0.4 %

NYSE:TPL opened at $1,288.37 on Wednesday. Texas Pacific Land Co. has a 12 month low of $493.40 and a 12 month high of $1,769.14. The firm has a market cap of $29.61 billion, a price-to-earnings ratio of 65.33 and a beta of 1.68. The company’s 50 day moving average is $1,290.28 and its 200-day moving average is $1,162.41.

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. The company had revenue of $185.78 million for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $1.60 dividend. The ex-dividend date is Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.50%. Texas Pacific Land’s dividend payout ratio (DPR) 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.