BI Asset Management Fondsmaeglerselskab A S Acquires Shares of 492 Texas Pacific Land Co. (NYSE:TPL)

BI Asset Management Fondsmaeglerselskab A S bought a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 492 shares of the financial services provider's stock, valued at approximately $544,000.

Several other large investors have also recently added to or reduced their stakes in the business. Bessemer Group Inc. boosted its position in shares of Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after acquiring an additional 13 shares during the last quarter. Assetmark Inc. purchased a new position in shares of Texas Pacific Land in the 4th quarter worth $29,000. Atala Financial Inc acquired a new position in Texas Pacific Land in the fourth quarter valued at $31,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Texas Pacific Land during the fourth quarter valued at about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock worth $76,000 after acquiring an additional 12 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Up 1.3 %

Shares of NYSE TPL traded up $17.89 during midday trading on Monday, hitting $1,352.52. The stock had a trading volume of 60,383 shares, compared to its average volume of 153,988. Texas Pacific Land Co. has a 1-year low of $555.71 and a 1-year high of $1,769.14. The company has a market capitalization of $31.09 billion, a price-to-earnings ratio of 68.59 and a beta of 1.44. The company has a fifty day moving average price of $1,306.98 and a 200 day moving average price of $1,295.81.

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 for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The firm had revenue of $185.78 million for the quarter.

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's payout ratio is 32.45%.

Insider Activity

In other news, VP Micheal W. Dobbs sold 1,150 shares of the company'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 completion of the transaction, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Chris Steddum sold 214 shares of the firm'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 sale, the chief financial officer now owns 3,502 shares of the company's stock, valued at $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 90 shares of company stock worth $117,505. 6.50% of the stock is currently owned by corporate insiders.

Texas Pacific Land Company Profile

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.