First Citizens Bank & Trust Co. Buys Shares of 353 Texas Pacific Land Co. (NYSE:TPL)

First Citizens Bank & Trust Co. acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 353 shares of the financial services provider's stock, valued at approximately $390,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TPL. Hilltop Holdings Inc. boosted its position in Texas Pacific Land by 290.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider's stock worth $1,606,000 after purchasing an additional 1,350 shares during the period. Quantinno Capital Management LP lifted its position in Texas Pacific Land by 63.5% during the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider's stock worth $2,634,000 after acquiring an additional 1,156 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Texas Pacific Land by 5.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider's stock worth $7,864,000 after acquiring an additional 431 shares during the period. Biltmore Family Office LLC acquired a new position in shares of Texas Pacific Land during the third quarter worth $337,000. Finally, Everence Capital Management Inc. purchased a new position in shares of Texas Pacific Land in the fourth quarter valued at $641,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the sale, the chief accounting officer now directly owns 584 shares of the company's stock, valued at $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders bought 76 shares of company stock valued at $103,813. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Trading Up 1.4 %

NYSE TPL traded up $17.42 during mid-day trading on Tuesday, reaching $1,273.14. 144,850 shares of the company's stock traded hands, compared to its average volume of 147,846. The company has a market cap of $29.26 billion, a price-to-earnings ratio of 65.32 and a beta of 1.68. The company has a fifty day simple moving average of $1,324.09 and a 200-day simple moving average of $1,082.83. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,769.14.

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

Texas Pacific Land Increases Dividend

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

About Texas Pacific Land

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.