Texas Pacific Land Co. (NYSE:TPL) Stock Position Lowered by Parkside Investments LLC

Parkside Investments LLC lessened its position in Texas Pacific Land Co. (NYSE:TPL – Get Rating) by 4.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,417 shares of the financial services provider’s stock after selling 102 shares during the period. Parkside Investments LLC’s holdings in Texas Pacific Land were worth $5,666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Xponance Inc. grew its holdings in shares of Texas Pacific Land by 1.0% in the 3rd quarter. Xponance Inc. now owns 681 shares of the financial services provider’s stock worth $1,210,000 after acquiring an additional 7 shares during the last quarter. Independent Advisor Alliance grew its holdings in shares of Texas Pacific Land by 0.6% in the 3rd quarter. Independent Advisor Alliance now owns 1,227 shares of the financial services provider’s stock worth $2,181,000 after acquiring an additional 7 shares during the last quarter. Utah Retirement Systems grew its holdings in shares of Texas Pacific Land by 0.9% in the 1st quarter. Utah Retirement Systems now owns 1,066 shares of the financial services provider’s stock worth $1,442,000 after acquiring an additional 9 shares during the last quarter. Corient Capital Partners LLC grew its holdings in shares of Texas Pacific Land by 2.0% during the second quarter. Corient Capital Partners LLC now owns 504 shares of the financial services provider’s stock valued at $750,000 after buying an additional 10 shares in the last quarter. Finally, Belpointe Asset Management LLC grew its holdings in shares of Texas Pacific Land by 3.4% during the third quarter. Belpointe Asset Management LLC now owns 300 shares of the financial services provider’s stock valued at $532,000 after buying an additional 10 shares in the last quarter. Institutional investors own 58.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Texas Pacific Land in a report on Thursday. They set a “hold” rating on the stock.

Texas Pacific Land Trading Down 1.6 %

Shares of TPL stock opened at $1,633.30 on Friday. Texas Pacific Land Co. has a 1-year low of $1,250.01 and a 1-year high of $2,739.00. The company has a market capitalization of $12.58 billion, a price-to-earnings ratio of 28.27 and a beta of 1.89. The stock’s fifty day simple moving average is $1,901.46 and its 200-day simple moving average is $2,113.28.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 8th were issued a dividend of $3.25 per share. This is an increase from Texas Pacific Land’s previous quarterly dividend of $3.00. The ex-dividend date of this dividend was Tuesday, March 7th. This represents a $13.00 dividend on an annualized basis and a dividend yield of 0.80%. Texas Pacific Land’s payout ratio is currently 22.50%.

Texas Pacific Land Company Profile

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Texas Pacific Land Corp. operates as a landowner in the State of Texas. Its surface and royalty ownership allow revenue generation through the entire value chain of oil and gas development, including through fixed fee payments for use of the firm’s land, revenue for sales of materials used in the construction of infrastructure, providing sourced water and treated produced water, revenue from its oil and gas royalty interests, and revenues related to saltwater disposal on land.