Pring Turner Capital Group Inc. Sells 1,496 Shares of Texas Pacific Land Co. (NYSE:TPL)

Pring Turner Capital Group Inc. decreased its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 46.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,748 shares of the financial services provider’s stock after selling 1,496 shares during the quarter. Texas Pacific Land comprises about 1.3% of Pring Turner Capital Group Inc.’s portfolio, making the stock its 28th largest holding. Pring Turner Capital Group Inc.’s holdings in Texas Pacific Land were worth $1,933,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TPL. Signaturefd LLC boosted its position in shares of Texas Pacific Land by 16.9% during the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 13 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Texas Pacific Land by 0.7% during the third quarter. Private Advisor Group LLC now owns 3,657 shares of the financial services provider’s stock worth $3,236,000 after acquiring an additional 27 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Texas Pacific Land during the third quarter worth $45,400,000. Assenagon Asset Management S.A. bought a new position in shares of Texas Pacific Land during the third quarter worth $331,000. Finally, State of Alaska Department of Revenue lifted its position in Texas Pacific Land by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 2,170 shares of the financial services provider’s stock valued at $1,919,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 3.8 %

TPL stock opened at $1,294.74 on Tuesday. Texas Pacific Land Co. has a 52 week low of $493.40 and a 52 week high of $1,769.14. The company has a fifty day simple moving average of $1,288.58 and a two-hundred day simple moving average of $1,159.12. The firm has a market capitalization of $29.76 billion, a P/E ratio of 65.66 and a beta of 1.68.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data 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 business had revenue of $185.78 million during the quarter.

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 0.49%. 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.