Meridian Wealth Management LLC Purchases New Shares in Texas Pacific Land Co. (NYSE:TPL)

Meridian Wealth Management LLC purchased a new stake in Texas Pacific Land Co. (NYSE:TPL) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 226 shares of the financial services provider’s stock, valued at approximately $250,000.

A number of other institutional investors have also recently added to or reduced their stakes in TPL. York GP Ltd. acquired a new stake in Texas Pacific Land in the 4th quarter valued at $101,859,000. Geode Capital Management LLC lifted its holdings in Texas Pacific Land by 21.5% in the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after purchasing an additional 81,974 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Texas Pacific Land in the 4th quarter valued at $31,802,000. State Street Corp lifted its holdings in Texas Pacific Land by 3.8% in the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock valued at $674,727,000 after purchasing an additional 27,884 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Texas Pacific Land in the 3rd quarter valued at $12,928,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $1,367.19 on Thursday. The stock’s fifty day moving average is $1,318.72 and its two-hundred day moving average is $1,182.98. The firm has a market capitalization of $31.42 billion, a P/E ratio of 69.33 and a beta of 1.68. Texas Pacific Land Co. has a fifty-two week low of $493.40 and a fifty-two week high of $1,769.14.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued 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 dividend yield of 0.47%. Texas Pacific Land’s dividend payout ratio is presently 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.