APG Asset Management N.V. boosted its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 74.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,606 shares of the financial services provider's stock after purchasing an additional 5,791 shares during the quarter. APG Asset Management N.V. owned approximately 0.06% of Texas Pacific Land worth $14,532,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Texas Pacific Land by 12.5% in the fourth 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Texas Pacific Land by 34.5% during the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after buying an additional 159,597 shares during the period. Invesco Ltd. lifted its holdings in shares of Texas Pacific Land by 203.4% during the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after purchasing an additional 200,841 shares during the period. Charles Schwab Investment Management Inc. lifted its position in 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 valued at $198,669,000 after purchasing an additional 43,217 shares during the period. Finally, Douglass Winthrop Advisors LLC grew its holdings in 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 worth $109,995,000 after acquiring an additional 259 shares during the period. Institutional investors and hedge funds own 59.94% of the company's stock.
Insiders Place Their Bets
In other news, CFO Chris Steddum sold 214 shares of the 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 transaction, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at $4,601,592.98. This represents a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was 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 approximately $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 82 shares of company stock valued at $107,353. 6.50% of the stock is currently owned by corporate insiders.
Texas Pacific Land Stock Up 1.5 %
Shares of TPL traded up $18.90 on Wednesday, hitting $1,283.17. 28,433 shares of the stock traded hands, compared to its average volume of 151,972. The firm has a market capitalization of $29.49 billion, a P/E ratio of 65.07 and a beta of 1.44. The stock's 50 day moving average is $1,317.16 and its two-hundred day moving average is $1,274.19. Texas Pacific Land Co. has a 1 year low of $555.71 and a 1 year high of $1,769.14.
Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly 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 business had revenue of $185.78 million for the quarter.
Texas Pacific Land Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $1.60 dividend. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.50%. Texas Pacific Land's payout ratio is 32.45%.
About Texas Pacific Land
(
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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