CreativeOne Wealth LLC acquired a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 224 shares of the financial services provider's stock, valued at approximately $247,000.
A number of other hedge funds also recently made changes to their positions in the business. Bessemer Group Inc. lifted its holdings in Texas Pacific Land by 108.3% during 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. bought a new position in shares of Texas Pacific Land in the fourth quarter valued at about $29,000. Atala Financial Inc acquired a new stake in shares of Texas Pacific Land during the 4th quarter worth about $31,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Texas Pacific Land in the 4th quarter valued at about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake 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. 59.94% of the stock is owned by institutional investors and hedge funds.
Texas Pacific Land Stock Up 1.4 %
Shares of TPL stock opened at $1,295.51 on Monday. Texas Pacific Land Co. has a 12-month low of $555.71 and a 12-month high of $1,769.14. The firm has a 50 day moving average price of $1,312.81 and a two-hundred day moving average price of $1,284.28. The company has a market capitalization of $29.78 billion, a PE ratio of 65.70 and a beta of 1.44.
Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's dividend payout ratio is 32.45%.
Insiders Place Their Bets
In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction on 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 directly owns 1,393 shares of the company's stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Chris Steddum sold 214 shares of the stock in a transaction on 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 directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired 84 shares of company stock worth $109,748 in the last quarter. 6.50% of the stock is currently owned by corporate insiders.
Texas Pacific Land Company Profile
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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
Want to see what other hedge funds are holding TPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Pacific Land Co. (NYSE:TPL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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