Allstate Corp acquired a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 570 shares of the financial services provider's stock, valued at approximately $630,000.
Other large investors have also recently made changes to their positions in the company. Assetmark Inc. bought a new stake in Texas Pacific Land during the 4th quarter worth approximately $29,000. Atala Financial Inc bought a new stake in shares of Texas Pacific Land during the 4th quarter valued at $31,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Texas Pacific Land during the 4th quarter valued at $66,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Texas Pacific Land by 21.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock valued at $76,000 after buying an additional 12 shares in the last quarter. Finally, Sentry Investment Management LLC bought a new position in Texas Pacific Land in the 4th quarter worth $87,000. 59.94% of the stock is owned by hedge funds and other institutional investors.
Texas Pacific Land Stock Down 11.9 %
NYSE:TPL traded down $165.19 on Thursday, reaching $1,226.25. 181,013 shares of the company's stock traded hands, compared to its average volume of 149,244. The stock has a 50-day simple moving average of $1,341.95 and a 200-day simple moving average of $1,254.05. Texas Pacific Land Co. has a 12 month low of $555.71 and a 12 month high of $1,769.14. The firm has a market cap of $28.19 billion, a PE ratio of 62.18 and a beta of 1.69.
Texas Pacific Land (NYSE:TPL - Get Free Report) last issued 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 for the quarter.
Texas Pacific Land Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's payout ratio is currently 32.45%.
Insider Transactions at Texas Pacific Land
In related news, CFO Chris Steddum sold 214 shares of the business's stock in a transaction dated 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm'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 of the company's stock, valued at $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 72 shares of company stock valued at $96,620. 6.50% of the stock is currently owned by corporate insiders.
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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