Truist Financial Corp Trims Position in Texas Pacific Land Co. (NYSE:TPL)

Truist Financial Corp decreased its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 9.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,270 shares of the financial services provider’s stock after selling 237 shares during the period. Truist Financial Corp’s holdings in Texas Pacific Land were worth $2,511,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Caprock Group LLC increased its position in Texas Pacific Land by 3.0% during the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 8 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Texas Pacific Land by 21.1% during 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 during the last quarter. Signaturefd LLC increased its position in Texas Pacific Land by 16.9% during the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 13 shares during the last quarter. Glenmede Trust Co. NA increased its position in Texas Pacific Land by 3.0% during the third quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 13 shares during the last quarter. Finally, Peloton Wealth Strategists increased its position in Texas Pacific Land by 1.8% during the third quarter. Peloton Wealth Strategists now owns 1,271 shares of the financial services provider’s stock worth $1,125,000 after purchasing an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 0.4 %

Texas Pacific Land stock opened at $1,288.37 on Wednesday. Texas Pacific Land Co. has a 52-week low of $493.40 and a 52-week high of $1,769.14. The firm has a fifty day moving average of $1,290.28 and a 200-day moving average of $1,162.41. The firm has a market capitalization of $29.61 billion, a P/E ratio of 65.33 and a beta of 1.68.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The business had revenue of $185.78 million during the quarter.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $1.60 dividend. 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 0.50%. 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.