Greenwich Wealth Management LLC Sells 78 Shares of Texas Pacific Land Co. (NYSE:TPL)

Greenwich Wealth Management LLC trimmed its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 27.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 205 shares of the financial services provider’s stock after selling 78 shares during the period. Greenwich Wealth Management LLC’s holdings in Texas Pacific Land were worth $227,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of TPL. Caprock Group LLC boosted its stake 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 acquiring an additional 8 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of 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 valued at $76,000 after purchasing an additional 12 shares during the period. Glenmede Trust Co. NA boosted its position in shares of Texas Pacific Land by 3.0% during the 3rd 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 in the last quarter. M&T Bank Corp grew its stake in shares of Texas Pacific Land by 2.1% in the 4th quarter. M&T Bank Corp now owns 941 shares of the financial services provider’s stock valued at $1,041,000 after buying an additional 19 shares during the period. Finally, Peloton Wealth Strategists increased its position in Texas Pacific Land by 1.8% in the 3rd quarter. Peloton Wealth Strategists now owns 1,271 shares of the financial services provider’s stock valued at $1,125,000 after buying an additional 23 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL opened at $1,319.96 on Monday. Texas Pacific Land Co. has a 52-week low of $547.00 and a 52-week high of $1,769.14. The business’s 50 day simple moving average is $1,343.50 and its two-hundred day simple moving average is $1,208.86. The firm has a market cap of $30.34 billion, a P/E ratio of 66.93 and a beta of 1.68.

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

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given 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 payout ratio 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.