Allspring Global Investments Holdings LLC cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL – Free Report) by 92.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 59 shares of the financial services provider’s stock after selling 717 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Texas Pacific Land were worth $52,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Texas Pacific Land by 199.8% during the 1st quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock valued at $1,099,867,000 after purchasing an additional 1,267,123 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Texas Pacific Land by 74.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock valued at $149,920,000 after purchasing an additional 86,975 shares during the last quarter. Magnolia Capital Advisors LLC purchased a new stake in shares of Texas Pacific Land during the 2nd quarter valued at $131,014,000. Dimensional Fund Advisors LP increased its position in shares of Texas Pacific Land by 8.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock valued at $92,632,000 after purchasing an additional 9,878 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Texas Pacific Land by 1,541.2% during the 2nd quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider’s stock valued at $47,228,000 after purchasing an additional 60,400 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.
Texas Pacific Land Stock Performance
TPL stock opened at $1,207.58 on Tuesday. The company has a market capitalization of $27.75 billion, a price-to-earnings ratio of 62.12 and a beta of 1.56. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,240.05. The stock has a fifty day moving average of $949.96 and a 200-day moving average of $794.97.
Texas Pacific Land Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $1.17 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a yield of 0.39%. Texas Pacific Land’s dividend payout ratio is currently 24.07%.
Analyst Ratings Changes
Separately, BWS Financial reaffirmed a “buy” rating and set a $917.00 target price on shares of Texas Pacific Land in a research report on Monday, August 12th.
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.
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