Peloton Wealth Strategists Sells 181 Shares of Texas Pacific Land Co. (NYSE:TPL)

Peloton Wealth Strategists trimmed its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 14.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,090 shares of the financial services provider’s stock after selling 181 shares during the quarter. Peloton Wealth Strategists’ holdings in Texas Pacific Land were worth $1,205,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in Texas Pacific Land in the third quarter worth approximately $25,000. Quest Partners LLC bought a new stake in Texas Pacific Land in the third quarter worth approximately $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Texas Pacific Land in the fourth quarter worth approximately $66,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Texas Pacific Land by 21.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 12 shares in the last quarter. Finally, Sentry Investment Management LLC bought a new stake in Texas Pacific Land in the fourth quarter worth approximately $87,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $1,358.59 on Friday. The company has a market cap of $31.23 billion, a P/E ratio of 68.89 and a beta of 1.68. The stock has a 50 day simple moving average of $1,300.20 and a two-hundred day simple moving average of $1,165.06. Texas Pacific Land Co. has a fifty-two week low of $493.40 and a fifty-two week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The business 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 company 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. The ex-dividend date is Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. 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.