Vanguard Group Inc. Reduces Holdings in Texas Pacific Land Co. (NYSE:TPL)

Vanguard Group Inc. cut its position in Texas Pacific Land Co. (NYSE:TPL – Get Rating) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 630,591 shares of the financial services provider’s stock after selling 6,197 shares during the quarter. Vanguard Group Inc. owned 8.18% of Texas Pacific Land worth $1,120,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Wipfli Financial Advisors LLC purchased a new position in Texas Pacific Land in the 3rd quarter valued at about $27,000. Citizens National Bank Trust Department purchased a new position in Texas Pacific Land in the third quarter valued at about $44,000. EverSource Wealth Advisors LLC acquired a new stake in Texas Pacific Land during the 3rd quarter valued at approximately $48,000. Federated Hermes Inc. purchased a new stake in Texas Pacific Land during the 1st quarter worth approximately $68,000. Finally, Korea Investment CORP acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at approximately $69,000. 58.95% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Trading Down 2.6 %

TPL stock opened at $1,704.01 on Monday. The firm has a 50 day simple moving average of $1,949.02 and a 200-day simple moving average of $2,120.95. The company has a market capitalization of $13.12 billion, a P/E ratio of 29.50 and a beta of 1.89. Texas Pacific Land Co. has a twelve month low of $1,240.69 and a twelve month high of $2,739.00.

Texas Pacific Land Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 8th will be given a $3.25 dividend. The ex-dividend date of this dividend is Tuesday, March 7th. This represents a $13.00 annualized dividend and a dividend yield of 0.76%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $3.00. Texas Pacific Land’s payout ratio is presently 22.50%.

Texas Pacific Land Profile

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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.