World Equity Group Inc. Increases Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

World Equity Group Inc. raised its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 92.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,304 shares of the financial services provider’s stock after purchasing an additional 2,542 shares during the quarter. Texas Pacific Land accounts for 1.3% of World Equity Group Inc.’s portfolio, making the stock its 14th largest position. World Equity Group Inc.’s holdings in Texas Pacific Land were worth $5,866,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Caprock Group LLC grew its position in Texas Pacific Land by 3.0% in the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 8 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 12 shares in the last quarter. Signaturefd LLC boosted its holdings in Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 13 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in Texas Pacific Land by 3.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 13 shares in the last quarter. Finally, First Financial Bankshares Inc boosted its stake in shares of Texas Pacific Land by 2.2% during the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock worth $667,000 after acquiring an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $1,346.26 on Friday. Texas Pacific Land Co. has a 12 month low of $493.40 and a 12 month high of $1,769.14. The firm has a market capitalization of $30.94 billion, a price-to-earnings ratio of 68.27 and a beta of 1.68. The business’s 50 day simple moving average is $1,287.07 and its 200-day simple moving average is $1,153.16.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The firm 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 declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. Texas Pacific Land’s dividend payout ratio (DPR) 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.