Erste Asset Management GmbH lifted its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 50.0% in the fourth quarter, according to 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 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp increased its stake in shares of Texas Pacific Land by 3.8% during the third quarter. State Street Corp now owns 762,627 shares of the financial services provider's stock worth $674,727,000 after purchasing an additional 27,884 shares in the last quarter. Geode Capital Management LLC boosted its position in 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 worth $411,943,000 after acquiring an additional 81,974 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Texas Pacific Land by 31.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock worth $198,669,000 after acquiring an additional 43,217 shares during the last quarter. Douglass Winthrop Advisors LLC boosted its position in Texas Pacific Land by 3.5% during the third quarter. Douglass Winthrop Advisors LLC now owns 99,198 shares of the financial services provider's stock worth $87,764,000 after acquiring an additional 3,363 shares during the last quarter. Finally, York GP Ltd. acquired a new position in Texas Pacific Land during the fourth quarter worth about $101,859,000. Hedge funds and other institutional investors own 59.94% of the company's stock.
Texas Pacific Land Price Performance
TPL traded down $8.13 on Tuesday, reaching $1,331.46. 17,625 shares of the company's stock were exchanged, compared to its average volume of 138,969. The stock has a market cap of $30.60 billion, a PE ratio of 67.64 and a beta of 1.69. Texas Pacific Land Co. has a twelve month low of $553.33 and a twelve month high of $1,769.14. The stock's fifty day moving average price is $1,345.70 and its 200-day moving average price is $1,212.14.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The firm had revenue of $185.78 million for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.
Texas Pacific Land Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.48%. Texas Pacific Land's payout ratio is 32.45%.
Insider Buying and Selling at Texas Pacific Land
In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were 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 directly owns 1,393 shares in the company, valued at $1,771,227.36. The trade was a 45.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Chris Steddum sold 214 shares of the business's 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 transaction, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 48 shares of company stock worth $63,363 in the last ninety days. 6.50% of the stock is owned by insiders.
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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