NewEdge Wealth LLC Sells 120 Shares of Texas Pacific Land Co. (NYSE:TPL)

NewEdge Wealth LLC reduced its stake in Texas Pacific Land Co. (NYSE:TPL) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,690 shares of the financial services provider’s stock after selling 120 shares during the quarter. NewEdge Wealth LLC’s holdings in Texas Pacific Land were worth $5,187,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in Texas Pacific Land during the 3rd quarter worth about $331,000. State of Alaska Department of Revenue lifted its position in Texas Pacific Land by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 2,170 shares of the financial services provider’s stock worth $1,919,000 after buying an additional 145 shares in the last quarter. abrdn plc lifted its position in Texas Pacific Land by 15.0% during the 3rd quarter. abrdn plc now owns 4,565 shares of the financial services provider’s stock worth $4,039,000 after buying an additional 597 shares in the last quarter. New York State Teachers Retirement System lifted its position in Texas Pacific Land by 6.1% during the 3rd quarter. New York State Teachers Retirement System now owns 12,731 shares of the financial services provider’s stock worth $11,264,000 after buying an additional 731 shares in the last quarter. Finally, First Trust Direct Indexing L.P. bought a new stake in Texas Pacific Land during the 3rd quarter worth about $312,000. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $1,358.59 on Friday. The company’s 50-day moving average price is $1,300.20 and its two-hundred day moving average price is $1,165.06. Texas Pacific Land Co. has a one year low of $493.40 and a one year high of $1,769.14. The stock has a market capitalization of $31.23 billion, a PE ratio of 68.89 and a beta of 1.68.

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

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $1.60 dividend. The ex-dividend date is Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.47%. Texas Pacific Land’s 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.