Candriam S.C.A. Lowers Position in Texas Pacific Land Co. (NYSE:TPL)

Candriam S.C.A. cut its stake in Texas Pacific Land Co. (NYSE:TPL) by 15.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 255 shares of the financial services provider’s stock after selling 45 shares during the quarter. Candriam S.C.A.’s holdings in Texas Pacific Land were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TPL. York GP Ltd. purchased a new stake in shares of Texas Pacific Land in the fourth quarter worth approximately $101,859,000. Geode Capital Management LLC grew its holdings in shares of Texas Pacific Land by 21.5% in the third 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Texas Pacific Land by 31.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider’s stock valued at $198,669,000 after acquiring an additional 43,217 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Texas Pacific Land in the fourth quarter valued at approximately $41,303,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Texas Pacific Land in the fourth quarter valued at approximately $31,802,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Down 3.0 %

TPL stock opened at $1,333.95 on Tuesday. The firm has a market cap of $30.66 billion, a PE ratio of 67.64 and a beta of 1.69. The business has a 50 day moving average of $1,330.59 and a 200-day moving average of $1,196.23. Texas Pacific Land Co. has a 12-month low of $503.08 and a 12-month high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The company had revenue of $185.78 million during 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 firm 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. This represents a $6.40 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is presently 32.45%.

About Texas Pacific Land

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.