Waverton Investment Management Ltd Has $8.11 Million Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Waverton Investment Management Ltd lowered its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 48.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,322 shares of the financial services provider’s stock after selling 6,844 shares during the period. Waverton Investment Management Ltd’s holdings in Texas Pacific Land were worth $8,109,000 as of its most recent SEC filing.

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

Texas Pacific Land Stock Performance

Shares of NYSE TPL opened at $1,346.26 on Monday. The company’s 50 day moving average price is $1,287.07 and its 200-day moving average price is $1,155.83. 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 market capitalization of $30.94 billion, a P/E ratio of 68.27 and a beta of 1.68.

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

Texas Pacific Land Announces Dividend

The firm 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 0.48%. Texas Pacific Land’s dividend payout ratio is currently 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.