Groupama Asset Managment Purchases Shares of 1,751 Texas Pacific Land Co. (NYSE:TPL)

Groupama Asset Managment bought a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,751 shares of the financial services provider's stock, valued at approximately $1,939,000.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in Texas Pacific Land by 41.5% in the 3rd quarter. FMR LLC now owns 2,525 shares of the financial services provider's stock worth $2,234,000 after purchasing an additional 740 shares in the last quarter. Townsquare Capital LLC acquired a new stake in Texas Pacific Land during the third quarter valued at $264,000. Glenmede Trust Co. NA lifted its holdings in shares of Texas Pacific Land by 3.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider's stock valued at $390,000 after buying an additional 13 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Texas Pacific Land in the 3rd quarter valued at approximately $226,000. Finally, Captrust Financial Advisors raised its holdings in shares of Texas Pacific Land by 3.0% during the 3rd quarter. Captrust Financial Advisors now owns 1,528 shares of the financial services provider's stock valued at $1,352,000 after purchasing an additional 44 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of Texas Pacific Land stock traded up $35.19 during trading on Monday, reaching $1,114.19. The company's stock had a trading volume of 163,859 shares, compared to its average volume of 150,483. The business's fifty day moving average price is $1,336.23 and its 200-day moving average price is $1,261.04. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14. The firm has a market cap of $25.61 billion, a price-to-earnings ratio of 56.47 and a beta of 1.44.

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Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The firm had revenue of $185.78 million for the quarter.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.57%. Texas Pacific Land's payout ratio is presently 32.45%.

Insider Buying and Selling

In related news, CFO Chris Steddum sold 214 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the sale, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the sale, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 71 shares of company stock worth $95,395. Corporate insiders own 6.50% of the company's stock.

Texas Pacific Land Company 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.