Proficio Capital Partners LLC Takes $31.80 Million Position in Texas Pacific Land Co. (NYSE:TPL)

Proficio Capital Partners LLC acquired a new stake in Texas Pacific Land Co. (NYSE:TPL) during the fourth quarter, HoldingsChannel reports. The firm acquired 28,755 shares of the financial services provider’s stock, valued at approximately $31,802,000.

A number of other hedge funds have also made changes to their positions in the business. State Street Corp increased its holdings in shares of 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 acquiring an additional 27,884 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 acquiring an additional 81,974 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Texas Pacific Land by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock valued at $120,694,000 after acquiring an additional 1,984 shares during the last quarter. Douglass Winthrop Advisors LLC grew its stake in Texas Pacific Land by 3.5% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 99,198 shares of the financial services provider’s stock worth $87,764,000 after buying an additional 3,363 shares during the last quarter. Finally, York GP Ltd. purchased a new position in Texas Pacific Land during the 4th quarter worth approximately $101,859,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 5.5 %

NYSE:TPL opened at $1,430.68 on Friday. The stock’s 50 day moving average price is $1,306.15 and its 200 day moving average price is $1,169.21. The company has a market capitalization of $32.88 billion, a PE ratio of 72.55 and a beta of 1.68. Texas Pacific Land Co. has a 52-week low of $493.40 and a 52-week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last released 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 return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Dividend Announcement

The company also recently declared 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 is Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.45%. Texas Pacific Land’s dividend payout ratio is presently 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.