Bank of New York Mellon Corp Has $164.67 Million Holdings in Texas Pacific Land Co. (NYSE:TPL)

Bank of New York Mellon Corp decreased its stake in Texas Pacific Land Co. (NYSE:TPL) by 22.3% during the 4th quarter, HoldingsChannel reports. The fund owned 148,889 shares of the financial services provider’s stock after selling 42,796 shares during the period. Bank of New York Mellon Corp’s holdings in Texas Pacific Land were worth $164,665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of TPL. York GP Ltd. acquired a new position in shares of Texas Pacific Land during the fourth quarter valued at about $101,859,000. Geode Capital Management LLC increased its stake in Texas Pacific Land by 21.5% during the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after acquiring an additional 81,974 shares during the period. State Street Corp raised its holdings in Texas Pacific Land by 3.8% in the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock valued at $674,727,000 after acquiring an additional 27,884 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Texas Pacific Land in the third quarter valued at $12,928,000. Finally, Chevy Chase Trust Holdings LLC bought a new position in Texas Pacific Land in the fourth quarter worth $10,934,000. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

TPL opened at $1,358.59 on Friday. The company has a market capitalization of $31.23 billion, a P/E ratio of 68.89 and a beta of 1.68. The firm’s fifty day moving average price is $1,300.20 and its two-hundred day moving average price is $1,165.06. Texas Pacific Land Co. has a fifty-two week low of $493.40 and a fifty-two week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last issued 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 business had revenue of $185.78 million for the quarter.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 annualized dividend and a dividend yield of 0.47%. Texas Pacific Land’s dividend payout ratio is currently 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.