Adams Natural Resources Fund Inc. bought a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,550 shares of the financial services provider's stock, valued at approximately $6,138,000. Texas Pacific Land comprises 1.0% of Adams Natural Resources Fund Inc.'s portfolio, making the stock its 23rd biggest holding.
A number of other hedge funds also recently made changes to their positions in the stock. Quest Partners LLC bought a new position in Texas Pacific Land in the 3rd quarter valued at approximately $50,000. Caprock Group LLC bought a new position in shares of Texas Pacific Land in the 3rd quarter valued at $234,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Texas Pacific Land in the 3rd quarter valued at $395,000. Pacer Advisors Inc. boosted its holdings in shares of Texas Pacific Land by 102.6% during the 3rd quarter. Pacer Advisors Inc. now owns 10,313 shares of the financial services provider's stock valued at $9,124,000 after acquiring an additional 5,223 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Texas Pacific Land by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider's stock worth $120,694,000 after acquiring an additional 1,984 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.
Texas Pacific Land Trading Down 0.2 %
TPL traded down $2.36 on Wednesday, reaching $1,360.00. The stock had a trading volume of 105,112 shares, compared to its average volume of 141,304. The firm has a 50-day moving average of $1,352.55 and a 200-day moving average of $1,234.22. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The company has a market capitalization of $31.26 billion, a price-to-earnings ratio of 68.97 and a beta of 1.69.
Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data 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 declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 0.47%. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.
Insider Transactions at Texas Pacific Land
In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the transaction, the vice president now directly owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Chris Steddum sold 214 shares of the company's stock in a transaction dated Friday, March 14th. The shares were 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 owns 3,502 shares in the company, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 66 shares of company stock worth $88,062. Company insiders own 6.50% of the company's stock.
Texas Pacific Land Profile
(
Free Report)
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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