Fairway Wealth LLC Invests $184,000 in Texas Pacific Land Co. (NYSE:TPL)

Fairway Wealth LLC purchased a new stake in Texas Pacific Land Co. (NYSE:TPL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 166 shares of the financial services provider’s stock, valued at approximately $184,000.

Several other large investors have also modified their holdings of the business. Assetmark Inc. acquired a new position in Texas Pacific Land during the 4th quarter valued at about $29,000. Capital Performance Advisors LLP acquired a new position in Texas Pacific Land in the third quarter valued at approximately $25,000. Quest Partners LLC purchased a new stake in Texas Pacific Land during the third quarter worth $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Texas Pacific Land in the 4th quarter worth about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 12 shares during the period. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 3.0 %

Shares of NYSE TPL opened at $1,333.95 on Tuesday. The firm has a 50-day simple moving average of $1,330.59 and a 200-day simple moving average of $1,196.23. The stock has a market capitalization of $30.66 billion, a price-to-earnings ratio of 67.64 and a beta of 1.69. Texas Pacific Land Co. has a 52 week low of $503.08 and a 52 week high of $1,769.14.

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

Texas Pacific Land Announces Dividend

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

Texas Pacific Land Company 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.