Empowered Funds LLC Increases Holdings in Texas Pacific Land Co. (NYSE:TPL)

Empowered Funds LLC boosted its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 71.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,379 shares of the financial services provider's stock after purchasing an additional 4,319 shares during the quarter. Empowered Funds LLC's holdings in Texas Pacific Land were worth $11,479,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in TPL. Geode Capital Management LLC grew its position 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 valued at $411,943,000 after purchasing an additional 81,974 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Texas Pacific Land in the 3rd quarter worth approximately $45,400,000. State Street Corp raised its holdings in shares of Texas Pacific Land by 3.8% during 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. Sequoia Financial Advisors LLC bought a new position in shares of Texas Pacific Land during the 3rd quarter valued at approximately $14,949,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Texas Pacific Land in the third quarter valued at $12,928,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Down 1.4 %

Texas Pacific Land stock traded down $18.47 during mid-day trading on Wednesday, reaching $1,345.65. 109,956 shares of the company's stock traded hands, compared to its average volume of 127,781. Texas Pacific Land Co. has a 12-month low of $471.06 and a 12-month high of $1,769.14. The company has a market cap of $30.92 billion, a price-to-earnings ratio of 69.04 and a beta of 1.68. The stock has a 50 day moving average of $1,271.10 and a two-hundred day moving average of $1,124.60.

Texas Pacific Land Company 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.