Boothbay Fund Management LLC Takes Position in Texas Pacific Land Co. (NYSE:TPL)

Posted by on Mar 4th, 2023

Boothbay Fund Management LLC purchased a new stake in Texas Pacific Land Co. (NYSE:TPL – Get Rating) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 146 shares of the financial services provider’s stock, valued at approximately $259,000.

A number of other hedge funds also recently made changes to their positions in the stock. Edge Capital Group LLC boosted its stake in shares of Texas Pacific Land by 0.7% in the 2nd quarter. Edge Capital Group LLC now owns 1,007 shares of the financial services provider’s stock valued at $1,498,000 after purchasing an additional 7 shares in the last quarter. Xponance Inc. boosted its position in Texas Pacific Land by 1.0% during the 3rd quarter. Xponance Inc. now owns 681 shares of the financial services provider’s stock worth $1,210,000 after buying an additional 7 shares during the period. Independent Advisor Alliance boosted its position in Texas Pacific Land by 0.6% during the 3rd quarter. Independent Advisor Alliance now owns 1,227 shares of the financial services provider’s stock worth $2,181,000 after buying an additional 7 shares during the period. Utah Retirement Systems boosted its position in Texas Pacific Land by 0.9% during the 1st quarter. Utah Retirement Systems now owns 1,066 shares of the financial services provider’s stock worth $1,442,000 after buying an additional 9 shares during the period. Finally, Fountainhead AM LLC boosted its position in Texas Pacific Land by 1.3% during the 2nd quarter. Fountainhead AM LLC now owns 752 shares of the financial services provider’s stock worth $1,119,000 after buying an additional 10 shares during the period. 58.95% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

NYSE:TPL opened at $1,816.92 on Friday. The firm’s 50 day simple moving average is $2,012.59 and its 200 day simple moving average is $2,115.05. Texas Pacific Land Co. has a one year low of $1,234.73 and a one year high of $2,739.00. The company has a market cap of $13.99 billion, a PE ratio of 31.45 and a beta of 1.89.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 8th will be given a dividend of $3.25 per share. The ex-dividend date is Tuesday, March 7th. This is an increase from Texas Pacific Land’s previous quarterly dividend of $3.00. This represents a $13.00 annualized dividend and a yield of 0.72%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 20.77%.

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.

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Institutional Ownership by Quarter for Texas Pacific Land (NYSE:TPL)

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