Erste Asset Management GmbH raised its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 570 shares of the financial services provider's stock after purchasing an additional 190 shares during the period. Erste Asset Management GmbH's holdings in Texas Pacific Land were worth $653,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $452,000. Avantax Advisory Services Inc. raised its position in shares of Texas Pacific Land by 3.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 1,258 shares of the financial services provider's stock valued at $1,391,000 after buying an additional 39 shares during the last quarter. Fairway Wealth LLC acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $184,000. Sage Mountain Advisors LLC acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $909,000. Finally, Clare Market Investments LLC acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $11,944,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
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 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 directly owns 3,502 shares in the company, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction dated 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 approximately $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 51 shares of company stock worth $67,311. Insiders own 6.50% of the company's stock.
Texas Pacific Land Stock Performance
Shares of NYSE TPL traded up $2.85 during mid-day trading on Tuesday, reaching $1,342.44. The company's stock had a trading volume of 80,580 shares, compared to its average volume of 139,399. The stock has a 50-day moving average of $1,347.30 and a two-hundred day moving average of $1,215.48. The stock has a market capitalization of $30.86 billion, a P/E ratio of 68.08 and a beta of 1.69. Texas Pacific Land Co. has a 1-year low of $553.33 and a 1-year high of $1,769.14.
Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The firm had revenue of $185.78 million during the quarter.
Texas Pacific Land Announces Dividend
The company also recently disclosed 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 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's payout ratio is currently 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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