Sprott Inc. Purchases 1,695 Shares of Texas Pacific Land Co. (NYSE:TPL)

Sprott Inc. increased its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 26.5% in the 4th quarter, HoldingsChannel reports. The fund owned 8,080 shares of the financial services provider’s stock after acquiring an additional 1,695 shares during the period. Sprott Inc.’s holdings in Texas Pacific Land were worth $8,936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Texas Pacific Land in the third quarter worth $25,000. Quest Partners LLC acquired a new stake in shares of Texas Pacific Land in the 3rd quarter worth $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Texas Pacific Land during the 4th quarter worth $66,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in Texas Pacific Land by 21.1% in 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 buying an additional 12 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new stake in Texas Pacific Land in the fourth quarter valued at about $87,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $1,288.37 on Wednesday. Texas Pacific Land Co. has a fifty-two week low of $493.40 and a fifty-two week high of $1,769.14. The firm has a market capitalization of $29.61 billion, a price-to-earnings ratio of 65.33 and a beta of 1.68. The stock’s 50-day simple moving average is $1,290.28 and its 200-day simple moving average is $1,162.41.

Texas Pacific Land (NYSE:TPL) last released its 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 company had revenue of $185.78 million for the quarter.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.50%. Texas Pacific Land’s dividend payout ratio is currently 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.