Proficio Capital Partners LLC Buys New Shares in Texas Pacific Land Co. (NYSE:TPL)

Proficio Capital Partners LLC bought a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 28,755 shares of the financial services provider’s stock, valued at approximately $31,802,000. Proficio Capital Partners LLC owned about 0.13% of Texas Pacific Land at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. M&T Bank Corp lifted its stake in Texas Pacific Land by 2.1% during the fourth quarter. M&T Bank Corp now owns 941 shares of the financial services provider’s stock valued at $1,041,000 after purchasing an additional 19 shares during the last quarter. Assetmark Inc. acquired a new stake in Texas Pacific Land during the fourth quarter valued at approximately $29,000. Cookson Peirce & Co. Inc. purchased a new stake in shares of Texas Pacific Land in the 4th quarter valued at approximately $466,000. Exencial Wealth Advisors LLC purchased a new stake in shares of Texas Pacific Land in the 4th quarter valued at approximately $219,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Texas Pacific Land by 31.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider’s stock valued at $198,669,000 after acquiring an additional 43,217 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL opened at $1,319.96 on Friday. The company has a market cap of $30.34 billion, a PE ratio of 66.93 and a beta of 1.68. Texas Pacific Land Co. has a 52 week low of $547.00 and a 52 week high of $1,769.14. The firm has a 50 day simple moving average of $1,343.50 and a 200 day simple moving average of $1,204.10.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The business 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $1.60 dividend. The ex-dividend date is Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.48%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.45%.

Texas Pacific Land Profile

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.