Kendall Capital Management Takes Position in Texas Pacific Land Co. (NYSE:TPL)

Kendall Capital Management purchased a new stake in Texas Pacific Land Co. (NYSE:TPL) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 210 shares of the financial services provider’s stock, valued at approximately $232,000.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Texas Pacific Land in the third quarter valued at approximately $25,000. Assetmark Inc. bought a new position in shares of Texas Pacific Land in the fourth quarter valued at approximately $29,000. Quest Partners LLC bought a new position in Texas Pacific Land during the third quarter worth $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Texas Pacific Land during the fourth quarter worth $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 12 shares during the period. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 5.5 %

Shares of TPL stock opened at $1,376.19 on Monday. Texas Pacific Land Co. has a 1 year low of $503.08 and a 1 year high of $1,769.14. The firm’s fifty day simple moving average is $1,326.06 and its 200 day simple moving average is $1,192.68. The firm has a market capitalization of $31.63 billion, a P/E ratio of 69.79 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last announced 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 Dividend Announcement

The business also recently announced 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 0.47%. The ex-dividend date is Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) 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.