Bouchey Financial Group Ltd Acquires New Stake in Texas Pacific Land Co. (NYSE:TPL)

Bouchey Financial Group Ltd acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 193 shares of the financial services provider’s stock, valued at approximately $213,000.

A number of other hedge funds have also made changes to their positions in TPL. York GP Ltd. acquired a new position in shares of Texas Pacific Land during the fourth quarter valued at approximately $101,859,000. Geode Capital Management LLC grew its position 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 worth $411,943,000 after buying an additional 81,974 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Texas Pacific Land in the fourth quarter worth approximately $31,802,000. State Street Corp grew its position 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 worth $674,727,000 after buying an additional 27,884 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in Texas Pacific Land in the third quarter worth approximately $12,928,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $1,358.59 on Friday. The firm has a market cap of $31.23 billion, a price-to-earnings ratio of 68.89 and a beta of 1.68. Texas Pacific Land Co. has a 1 year low of $493.40 and a 1 year high of $1,769.14. The firm’s 50 day moving average price is $1,300.20 and its two-hundred day moving average price is $1,165.06.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The firm 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 Announces Dividend

The company 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. This represents a $6.40 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land’s payout ratio is 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.