CMC Financial Group Acquires New Holdings in Texas Pacific Land Co. (NYSE:TPL)

CMC Financial Group bought a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 427 shares of the financial services provider's stock, valued at approximately $472,000. Texas Pacific Land comprises about 1.0% of CMC Financial Group's portfolio, making the stock its 15th biggest position.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Texas Pacific Land by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after purchasing an additional 260,278 shares during the period. State Street Corp boosted its holdings in shares of Texas Pacific Land by 3.8% in the third quarter. State Street Corp now owns 762,627 shares of the financial services provider's stock worth $674,727,000 after buying an additional 27,884 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Texas Pacific Land by 21.5% in the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider's stock worth $411,943,000 after buying an additional 81,974 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Texas Pacific Land by 31.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock worth $198,669,000 after acquiring an additional 43,217 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC raised its holdings in shares of Texas Pacific Land by 0.3% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 99,457 shares of the financial services provider's stock valued at $109,995,000 after acquiring an additional 259 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

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Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded down $24.05 during mid-day trading on Friday, hitting $1,307.86. The stock had a trading volume of 103,050 shares, compared to its average volume of 148,528. Texas Pacific Land Co. has a 12-month low of $555.71 and a 12-month high of $1,769.14. The company has a market cap of $30.06 billion, a PE ratio of 66.32 and a beta of 1.69. The company's 50 day moving average is $1,348.93 and its 200-day moving average is $1,239.36.

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

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $1.60 per share. The ex-dividend date was Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.49%. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.

Insider Activity

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction that occurred 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 transaction, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Chris Steddum sold 214 shares of the 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 transaction of $281,193.86. Following the completion of the sale, the chief financial officer now owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 68 shares of company stock worth $91,008 in the last 90 days. Company insiders own 6.50% of the company's stock.

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.