Erste Asset Management GmbH Purchases 190 Shares of Texas Pacific Land Co. (NYSE:TPL)

Erste Asset Management GmbH grew its position in Texas Pacific Land Co. (NYSE:TPL) by 50.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 570 shares of the financial services provider’s stock after acquiring an additional 190 shares during the period. Erste Asset Management GmbH’s holdings in Texas Pacific Land were worth $653,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hilltop Holdings Inc. grew its position 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 acquiring an additional 1,350 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Texas Pacific Land by 63.5% during the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock worth $2,634,000 after buying an additional 1,156 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Texas Pacific Land by 5.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock worth $7,864,000 after buying an additional 431 shares during the period. Biltmore Family Office LLC bought a new stake in shares of Texas Pacific Land during the 3rd quarter worth about $337,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Texas Pacific Land during the 4th quarter worth about $641,000. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $1,319.96 on Friday. The company has a market capitalization of $30.34 billion, a price-to-earnings ratio of 66.93 and a beta of 1.68. The company has a 50-day simple moving average of $1,343.50 and a 200 day simple moving average of $1,206.52. Texas Pacific Land Co. has a 52 week low of $547.00 and a 52 week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last announced its earnings results 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 disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is 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.