Horizon Kinetics Asset Management LLC Has $3.99 Billion Holdings in Texas Pacific Land Co. (NYSE:TPL)

Horizon Kinetics Asset Management LLC lowered its position in Texas Pacific Land Co. (NYSE:TPL) by 2.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,606,579 shares of the financial services provider’s stock after selling 87,786 shares during the quarter. Texas Pacific Land makes up about 49.7% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its largest position. Horizon Kinetics Asset Management LLC owned 0.16% of Texas Pacific Land worth $3,988,732,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. York GP Ltd. bought a new position in shares of Texas Pacific Land during the 4th quarter valued at about $101,859,000. Geode Capital Management LLC boosted its holdings in shares of Texas Pacific Land by 21.5% during 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Texas Pacific Land by 31.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider’s stock valued at $198,669,000 after purchasing an additional 43,217 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Texas Pacific Land during the 4th quarter valued at about $41,303,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Texas Pacific Land during the 4th quarter valued at about $31,802,000. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 5.2 %

TPL opened at $1,319.96 on Monday. The firm has a 50-day simple moving average of $1,343.50 and a two-hundred day simple moving average of $1,208.86. Texas Pacific Land Co. has a 52 week low of $547.00 and a 52 week high of $1,769.14. The company has a market capitalization of $30.34 billion, a PE ratio of 66.93 and a beta of 1.68.

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

Texas Pacific Land Announces Dividend

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