Toroso Investments LLC Has $2.31 Million Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Toroso Investments LLC cut its stake in shares of Texas Pacific Land Co. (NYSE:TPL – Get Rating) by 3.9% during the third quarter, Holdings Channel reports. The firm owned 1,302 shares of the financial services provider’s stock after selling 53 shares during the quarter. Toroso Investments LLC’s holdings in Texas Pacific Land were worth $2,314,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Teacher Retirement System of Texas raised its position in shares of Texas Pacific Land by 114.5% during the third quarter. Teacher Retirement System of Texas now owns 2,257 shares of the financial services provider’s stock worth $4,011,000 after purchasing an additional 1,205 shares during the period. Next Level Private LLC purchased a new position in shares of Texas Pacific Land during the third quarter valued at $201,000. Korea Investment CORP purchased a new position in shares of Texas Pacific Land during the third quarter valued at $69,000. Gulf International Bank UK Ltd purchased a new position in shares of Texas Pacific Land during the third quarter valued at $2,052,000. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Texas Pacific Land by 29.7% during the third quarter. Cullen Frost Bankers Inc. now owns 131 shares of the financial services provider’s stock valued at $233,000 after buying an additional 30 shares in the last quarter. 58.95% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $1,659.36 on Friday. The business’s 50-day moving average price is $1,910.15 and its two-hundred day moving average price is $2,112.05. Texas Pacific Land Co. has a one year low of $1,250.01 and a one year high of $2,739.00. The company has a market capitalization of $12.78 billion, a P/E ratio of 28.72 and a beta of 1.89.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 8th were paid a dividend of $3.25 per share. This represents a $13.00 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Tuesday, March 7th. This is an increase from Texas Pacific Land’s previous quarterly dividend of $3.00. Texas Pacific Land’s dividend payout ratio is 22.50%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Texas Pacific Land in a report on Thursday. They set a “hold” rating on the stock.

About Texas Pacific Land

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Texas Pacific Land Corp. operates as a landowner in the State of Texas. Its surface and royalty ownership allow revenue generation through the entire value chain of oil and gas development, including through fixed fee payments for use of the firm’s land, revenue for sales of materials used in the construction of infrastructure, providing sourced water and treated produced water, revenue from its oil and gas royalty interests, and revenues related to saltwater disposal on land.