Tower Bridge Advisors Sells 242 Shares of Texas Pacific Land Co. (NYSE:TPL)

Tower Bridge Advisors trimmed its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,327 shares of the financial services provider’s stock after selling 242 shares during the period. Tower Bridge Advisors’ holdings in Texas Pacific Land were worth $4,785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Caprock Group LLC raised its position in shares of Texas Pacific Land by 3.0% during the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 8 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings 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 valued at $76,000 after acquiring an additional 12 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in 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 acquiring an additional 13 shares during the last quarter. Peloton Wealth Strategists increased its holdings in Texas Pacific Land by 1.8% in the 3rd 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. Finally, Mutual Advisors LLC increased its holdings in Texas Pacific Land by 1.1% in the 4th quarter. Mutual Advisors LLC now owns 2,144 shares of the financial services provider’s stock valued at $2,371,000 after acquiring an additional 24 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Performance

Shares of NYSE TPL opened at $1,430.68 on Friday. The company has a market cap of $32.88 billion, a P/E ratio of 72.55 and a beta of 1.68. The firm’s fifty day moving average is $1,306.15 and its two-hundred day moving average is $1,169.21. Texas Pacific Land Co. has a 52-week low of $493.40 and a 52-week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results 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 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. Shareholders of record on Monday, March 3rd will be issued a $1.60 dividend. The ex-dividend date is Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.45%. Texas Pacific Land’s dividend payout ratio 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.