Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in Texas Pacific Land Co. (NYSE:TPL)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Texas Pacific Land Co. (NYSE:TPL) by 72.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,640 shares of the financial services provider’s stock after purchasing an additional 2,782 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Texas Pacific Land were worth $7,344,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TPL. Assetmark Inc. purchased a new position in shares of Texas Pacific Land in the fourth quarter worth $29,000. Quest Partners LLC purchased a new position in Texas Pacific Land during the 3rd quarter valued at approximately $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Texas Pacific Land in the 4th quarter worth approximately $66,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Texas Pacific Land by 21.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 12 shares in the last quarter. Finally, Sentry Investment Management LLC purchased a new stake in shares of Texas Pacific Land during the 4th quarter worth approximately $87,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Performance

TPL stock opened at $1,252.20 on Friday. The firm has a market cap of $28.78 billion, a PE ratio of 63.50 and a beta of 1.68. The firm has a fifty day moving average price of $1,339.88 and a 200 day moving average price of $1,200.57. Texas Pacific Land Co. has a fifty-two week low of $540.00 and a fifty-two week high of $1,769.14.

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

Texas Pacific Land Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $1.60 dividend. The ex-dividend date is Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.51%. Texas Pacific Land’s payout ratio is 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.