Guggenheim Capital LLC raised its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 178.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,498 shares of the financial services provider's stock after buying an additional 960 shares during the quarter. Guggenheim Capital LLC's holdings in Texas Pacific Land were worth $1,657,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Texas Pacific Land by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after purchasing an additional 260,278 shares in the last quarter. Geode Capital Management LLC raised its stake in Texas Pacific Land by 34.5% during the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after buying an additional 159,597 shares during the period. Invesco Ltd. boosted its holdings in Texas Pacific Land by 203.4% in the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after acquiring an additional 200,841 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Texas Pacific Land by 31.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock valued at $198,669,000 after acquiring an additional 43,217 shares during the period. Finally, Douglass Winthrop Advisors LLC raised its position in shares of Texas Pacific Land by 0.3% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 99,457 shares of the financial services provider's stock worth $109,995,000 after purchasing an additional 259 shares during the period. 59.94% of the stock is currently owned by institutional investors.
Insider Activity at Texas Pacific Land
In other news, VP Micheal W. Dobbs sold 1,150 shares of the 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 completion of the sale, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Chris Steddum sold 214 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the transaction, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 88 shares of company stock valued at $114,764. 6.50% of the stock is owned by insiders.
Texas Pacific Land Trading Down 0.4 %
NYSE TPL traded down $4.76 during mid-day trading on Friday, hitting $1,331.03. The company's stock had a trading volume of 19,437 shares, compared to its average volume of 153,414. The company's 50 day simple moving average is $1,308.63 and its 200 day simple moving average is $1,289.10. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14. The firm has a market capitalization of $30.59 billion, a price-to-earnings ratio of 67.31 and a beta of 1.44.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The company had revenue of $185.78 million during the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.
Texas Pacific Land Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $1.60 per share. The ex-dividend date was Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.48%. Texas Pacific Land's dividend payout ratio (DPR) 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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