Exchange Traded Concepts LLC Acquires 492 Shares of Texas Pacific Land Co. (NYSE:TPL)

Exchange Traded Concepts LLC grew its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 130.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 870 shares of the financial services provider's stock after purchasing an additional 492 shares during the period. Exchange Traded Concepts LLC's holdings in Texas Pacific Land were worth $962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Sustainable Insight Capital Management LLC bought a new stake in Texas Pacific Land during the 4th quarter worth about $332,000. Yeomans Consulting Group Inc. acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $302,000. Donoghue Forlines LLC bought a new stake in Texas Pacific Land during the fourth quarter worth about $1,956,000. Avior Wealth Management LLC boosted its position in Texas Pacific Land by 31.4% during the fourth quarter. Avior Wealth Management LLC now owns 205 shares of the financial services provider's stock valued at $227,000 after purchasing an additional 49 shares during the last quarter. Finally, Mutual Advisors LLC boosted its position in Texas Pacific Land by 1.1% during the fourth quarter. Mutual Advisors LLC now owns 2,144 shares of the financial services provider's stock valued at $2,371,000 after purchasing an additional 24 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Down 0.2 %

Shares of TPL stock traded down $2.38 on Wednesday, reaching $1,272.85. The stock had a trading volume of 83,902 shares, compared to its average volume of 144,327. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,769.14. The firm has a market capitalization of $29.25 billion, a price-to-earnings ratio of 65.31 and a beta of 1.68. The firm's 50-day moving average is $1,317.58 and its two-hundred day moving average is $1,087.45.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter. Texas Pacific Land had a return on equity of 40.57% and a net margin of 65.34%. The business had revenue of $173.56 million during the quarter. During the same period in the prior year, the business earned $4.58 EPS.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $1.60 dividend. The ex-dividend date was Monday, December 2nd. This is an increase from Texas Pacific Land's previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a dividend yield of 0.50%. Texas Pacific Land's dividend payout ratio is 32.84%.

Insider Buying and Selling

In other news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total value of $291,549.30. Following the transaction, the chief accounting officer now owns 584 shares in the company, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have acquired 73 shares of company stock valued at $100,462. 6.50% of the stock is owned by company insiders.

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.