Kentucky Retirement Systems Acquires Shares of 1,295 Texas Pacific Land Co. (NYSE:TPL)

Kentucky Retirement Systems acquired a new stake in Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,295 shares of the financial services provider’s stock, valued at approximately $1,432,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TPL. ING Groep NV bought a new position in shares of Texas Pacific Land during the fourth quarter worth approximately $2,661,000. Boston Financial Mangement LLC bought a new position in shares of Texas Pacific Land during the fourth quarter worth approximately $216,000. Cumberland Partners Ltd bought a new position in shares of Texas Pacific Land during the fourth quarter worth approximately $1,272,000. Private Advisor Group LLC increased its stake in shares of Texas Pacific Land by 4.9% during the fourth quarter. Private Advisor Group LLC now owns 3,835 shares of the financial services provider’s stock worth $4,242,000 after purchasing an additional 178 shares during the period. Finally, Atria Wealth Solutions Inc. increased its stake in shares of Texas Pacific Land by 64.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,069 shares of the financial services provider’s stock worth $1,182,000 after purchasing an additional 420 shares during the period. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 5.9 %

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

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The business had revenue of $185.78 million for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land’s dividend payout ratio 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.