Beddow Capital Management Inc. Invests $27.21 Million in Texas Pacific Land Co. (NYSE:TPL)

Beddow Capital Management Inc. purchased a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 24,602 shares of the financial services provider's stock, valued at approximately $27,209,000. Texas Pacific Land makes up 11.2% of Beddow Capital Management Inc.'s investment portfolio, making the stock its biggest holding. Beddow Capital Management Inc. owned approximately 0.11% of Texas Pacific Land at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Assetmark Inc. bought a new position in Texas Pacific Land in the fourth quarter worth approximately $29,000. Atala Financial Inc bought a new position in shares of Texas Pacific Land in the 4th quarter worth $31,000. Quest Partners LLC purchased a new stake in shares of Texas Pacific Land during the 3rd quarter worth $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Texas Pacific Land during the fourth quarter valued at about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in Texas Pacific Land by 21.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock valued at $76,000 after purchasing an additional 12 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction 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 $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 66 shares of company stock worth $88,062. Company insiders own 6.50% of the company's stock.

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Texas Pacific Land Price Performance

Texas Pacific Land stock traded down $2.36 during trading hours on Wednesday, reaching $1,360.00. The stock had a trading volume of 105,112 shares, compared to its average volume of 141,304. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14. The company has a market cap of $31.26 billion, a price-to-earnings ratio of 68.97 and a beta of 1.69. The business's 50 day moving average price is $1,352.55 and its 200-day moving average price is $1,234.22.

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

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $1.60 dividend. 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 0.47%. 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.