Royal Bank of Canada Sells 34 Shares of Texas Pacific Land Co. (NYSE:TPL)

Royal Bank of Canada trimmed its holdings in Texas Pacific Land Co. (NYSE:TPL – Get Rating) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,355 shares of the financial services provider’s stock after selling 34 shares during the period. Royal Bank of Canada owned about 0.08% of Texas Pacific Land worth $11,294,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wipfli Financial Advisors LLC purchased a new stake in shares of Texas Pacific Land in the third quarter valued at about $27,000. Citizens National Bank Trust Department purchased a new stake in shares of Texas Pacific Land in the third quarter valued at about $44,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Texas Pacific Land in the third quarter valued at about $48,000. Federated Hermes Inc. purchased a new stake in shares of Texas Pacific Land in the first quarter valued at about $68,000. Finally, Korea Investment CORP purchased a new stake in shares of Texas Pacific Land in the third quarter valued at about $69,000. Hedge funds and other institutional investors own 58.95% of the company’s stock.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $1,774.84 on Thursday. The firm has a 50-day moving average of $1,973.47 and a 200-day moving average of $2,119.22. The company has a market cap of $13.67 billion, a P/E ratio of 30.72 and a beta of 1.89. Texas Pacific Land Co. has a one year low of $1,240.69 and a one year high of $2,739.00.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 8th will be issued a dividend of $3.25 per share. This represents a $13.00 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, March 7th. This is an increase from Texas Pacific Land’s previous quarterly dividend of $3.00. Texas Pacific Land’s dividend payout ratio (DPR) is 22.50%.

About Texas Pacific Land

(Get Rating)

Texas Pacific Land Corp. operates as a landowner in the State of Texas. Its surface and royalty ownership allow revenue generation through the entire value chain of oil and gas development, including through fixed fee payments for use of the firm’s land, revenue for sales of materials used in the construction of infrastructure, providing sourced water and treated produced water, revenue from its oil and gas royalty interests, and revenues related to saltwater disposal on land.