CANADA LIFE ASSURANCE Co lessened its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 52.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,045 shares of the financial services provider's stock after selling 13,462 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.05% of Texas Pacific Land worth $13,319,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in TPL. Bessemer Group Inc. lifted its stake in shares of Texas Pacific Land by 108.3% in the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 13 shares during the last quarter. Assetmark Inc. purchased a new position in Texas Pacific Land during the fourth quarter worth about $29,000. Atala Financial Inc acquired a new stake in shares of Texas Pacific Land during the fourth quarter valued at about $31,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Texas Pacific Land in the 4th quarter valued at approximately $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position 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 worth $76,000 after purchasing an additional 12 shares during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Texas Pacific Land
In other 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 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 approximately $4,601,592.98. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction of $1,462,248.00. Following the completion of the sale, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired 84 shares of company stock valued at $109,748 in the last 90 days. Company insiders own 6.50% of the company's stock.
Texas Pacific Land Stock Up 1.4 %
Shares of NYSE TPL opened at $1,295.51 on Monday. Texas Pacific Land Co. has a 52-week low of $555.71 and a 52-week high of $1,769.14. The business's 50 day moving average is $1,312.81 and its two-hundred day moving average is $1,284.28. The firm has a market cap of $29.78 billion, a price-to-earnings ratio of 65.70 and a beta of 1.44.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The firm had revenue of $185.78 million for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.
Texas Pacific Land Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 yield of 0.49%. Texas Pacific Land's dividend payout ratio (DPR) is presently 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.
Further Reading
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