Connor Clark & Lunn Investment Management Ltd. purchased a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 409 shares of the financial services provider's stock, valued at approximately $452,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp increased its holdings in Texas Pacific Land by 3.8% in the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider's stock worth $674,727,000 after acquiring an additional 27,884 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Texas Pacific Land by 21.5% during the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider's stock worth $411,943,000 after purchasing an additional 81,974 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Texas Pacific Land by 31.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock worth $198,669,000 after purchasing an additional 43,217 shares in the last quarter. Douglass Winthrop Advisors LLC raised its position in shares of Texas Pacific Land by 3.5% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 99,198 shares of the financial services provider's stock worth $87,764,000 after purchasing an additional 3,363 shares during the last quarter. Finally, York GP Ltd. acquired a new stake in Texas Pacific Land in the 4th quarter worth about $101,859,000. Institutional investors and hedge funds own 59.94% of the company's stock.
Insiders Place Their Bets
In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of Texas Pacific Land 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 completion of the sale, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm'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 completion of the transaction, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 56 shares of company stock valued at $74,564. 6.50% of the stock is owned by company insiders.
Texas Pacific Land Stock Performance
Shares of TPL traded up $53.00 during trading hours on Monday, hitting $1,326.15. 60,222 shares of the stock were exchanged, compared to its average volume of 140,893. Texas Pacific Land Co. has a 12-month low of $555.71 and a 12-month high of $1,769.14. The company has a market cap of $30.48 billion, a price-to-earnings ratio of 67.19 and a beta of 1.69. The stock's 50-day moving average price is $1,350.80 and its two-hundred day moving average price is $1,226.35.
Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The firm had revenue of $185.78 million for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.
Texas Pacific Land Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's dividend payout ratio is presently 32.45%.
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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