Dudley Capital Management LLC Buys New Shares in Texas Pacific Land Co. (NYSE:TPL)

Dudley Capital Management LLC purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 212 shares of the financial services provider's stock, valued at approximately $234,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Assetmark Inc. acquired a new position in Texas Pacific Land during the fourth quarter worth $29,000. Atala Financial Inc acquired a new stake in shares of Texas Pacific Land during the 4th quarter worth about $31,000. Quest Partners LLC acquired a new position in Texas Pacific Land in the third quarter valued at about $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Texas Pacific Land during the fourth quarter worth about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew 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 buying an additional 12 shares during the last quarter. Institutional investors 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 on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of the sale, the chief financial officer now 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $1,462,248.00. Following the sale, the vice president now 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 disclosure for this sale can be found here. In the last quarter, insiders have bought 68 shares of company stock valued at $91,008. 6.50% of the stock is currently owned by corporate insiders.

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Texas Pacific Land Price Performance

Shares of NYSE:TPL traded down $24.05 during trading on Friday, reaching $1,307.86. The stock had a trading volume of 103,050 shares, compared to its average volume of 148,528. The stock has a market capitalization of $30.06 billion, a PE ratio of 66.32 and a beta of 1.69. 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 price is $1,348.93 and its 200 day moving average price is $1,242.51.

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 company 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.

Texas Pacific Land 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.