Douglass Winthrop Advisors LLC boosted its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,457 shares of the financial services provider's stock after buying an additional 259 shares during the quarter. Texas Pacific Land makes up approximately 2.1% of Douglass Winthrop Advisors LLC's investment portfolio, making the stock its 18th largest position. Douglass Winthrop Advisors LLC owned 0.43% of Texas Pacific Land worth $109,995,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in Texas Pacific Land by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 797 shares of the financial services provider's stock valued at $705,000 after purchasing an additional 41 shares during the period. Quest Partners LLC acquired a new position in Texas Pacific Land in the third quarter valued at $50,000. Caprock Group LLC bought a new stake in Texas Pacific Land during the third quarter valued at $234,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Texas Pacific Land during the 3rd quarter worth about $395,000. Finally, Pacer Advisors Inc. raised its position in shares of Texas Pacific Land by 102.6% in the 3rd quarter. Pacer Advisors Inc. now owns 10,313 shares of the financial services provider's stock worth $9,124,000 after acquiring an additional 5,223 shares in the last quarter. Institutional investors own 59.94% of the company's stock.
Insider Activity
In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction that occurred 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 transaction, the vice president now 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 56 shares of company stock worth $74,564 in the last three months. Company insiders own 6.50% of the company's stock.
Texas Pacific Land Stock Performance
Shares of NYSE:TPL traded up $66.63 during midday trading on Monday, reaching $1,339.78. The company's stock had a trading volume of 48,505 shares, compared to its average volume of 140,839. The firm has a 50 day moving average price of $1,350.80 and a two-hundred day moving average price of $1,226.35. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The firm has a market capitalization of $30.79 billion, a price-to-earnings ratio of 67.94 and a beta of 1.69.
Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given 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 dividend yield of 0.48%. 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.
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