Sage Mountain Advisors LLC Purchases New Holdings in Texas Pacific Land Co. (NYSE:TPL)

Sage Mountain Advisors LLC purchased a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 822 shares of the financial services provider’s stock, valued at approximately $909,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hilltop Holdings Inc. grew its stake in shares of Texas Pacific Land by 290.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock valued at $1,606,000 after purchasing an additional 1,350 shares during the period. Quantinno Capital Management LP grew its stake in shares of Texas Pacific Land by 63.5% in the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock valued at $2,634,000 after purchasing an additional 1,156 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of Texas Pacific Land by 5.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock valued at $7,864,000 after purchasing an additional 431 shares during the period. Biltmore Family Office LLC bought a new stake in shares of Texas Pacific Land in the 3rd quarter valued at approximately $337,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Texas Pacific Land in the 4th quarter valued at approximately $641,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Trading Down 3.0 %

TPL stock opened at $1,333.95 on Tuesday. Texas Pacific Land Co. has a 1-year low of $503.08 and a 1-year high of $1,769.14. The firm has a market cap of $30.66 billion, a P/E ratio of 67.64 and a beta of 1.69. The business’s 50 day moving average is $1,330.59 and its 200-day moving average is $1,196.23.

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

Texas Pacific Land Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 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.