Arrowstreet Capital Limited Partnership lifted its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 12,261.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,152 shares of the financial services provider's stock after buying an additional 30,900 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.14% of Texas Pacific Land worth $34,453,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of TPL. Assetmark Inc. acquired a new position in Texas Pacific Land in the 4th quarter worth about $29,000. Atala Financial Inc bought a new stake in shares of Texas Pacific Land during the fourth quarter worth about $31,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Texas Pacific Land in the fourth quarter valued at approximately $66,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Texas Pacific Land by 21.1% in 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 during the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in Texas Pacific Land during the 4th quarter worth approximately $87,000. 59.94% of the stock is currently owned by institutional investors.
Insider Activity at Texas Pacific Land
In related news, VP Micheal W. Dobbs sold 1,150 shares of the business's stock in a transaction 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 $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Chris Steddum sold 214 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 74 shares of company stock worth $98,891 over the last ninety days. Insiders own 6.50% of the company's stock.
Texas Pacific Land Trading Up 6.9 %
TPL traded up $74.57 during trading on Monday, reaching $1,153.57. 366,727 shares of the company's stock were exchanged, compared to its average volume of 151,252. The firm has a fifty day moving average price of $1,334.28 and a two-hundred day moving average price of $1,262.71. The stock has a market capitalization of $26.51 billion, a PE ratio of 58.50 and a beta of 1.44. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14.
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 for the quarter. The business had revenue of $185.78 million during the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.
Texas Pacific Land Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's dividend payout ratio is currently 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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