Edge Capital Group LLC Lowers Stake in Texas Pacific Land Co. (NYSE:TPL)

Edge Capital Group LLC lessened its stake in Texas Pacific Land Co. (NYSE:TPL) by 75.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 246 shares of the financial services provider’s stock after selling 750 shares during the period. Edge Capital Group LLC’s holdings in Texas Pacific Land were worth $272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at $3,907,000. World Equity Group Inc. boosted its holdings in Texas Pacific Land by 92.0% during the 4th quarter. World Equity Group Inc. now owns 5,304 shares of the financial services provider’s stock valued at $5,866,000 after acquiring an additional 2,542 shares during the period. MONECO Advisors LLC grew its position in Texas Pacific Land by 62.4% in the 4th quarter. MONECO Advisors LLC now owns 492 shares of the financial services provider’s stock valued at $544,000 after acquiring an additional 189 shares in the last quarter. WESPAC Advisors LLC purchased a new stake in Texas Pacific Land during the fourth quarter worth about $507,000. Finally, Wealthspire Advisors LLC lifted its position in shares of Texas Pacific Land by 6.1% during the fourth quarter. Wealthspire Advisors LLC now owns 794 shares of the financial services provider’s stock worth $878,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

NYSE TPL opened at $1,294.74 on Tuesday. Texas Pacific Land Co. has a one year low of $493.40 and a one year high of $1,769.14. The firm has a 50 day simple moving average of $1,288.58 and a 200-day simple moving average of $1,159.12. The firm has a market cap of $29.76 billion, a price-to-earnings ratio of 65.66 and a beta of 1.68.

Texas Pacific Land (NYSE:TPL) last issued its quarterly 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 business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid 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 0.49%. Texas Pacific Land’s payout ratio is 32.45%.

Texas Pacific Land Company 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.