Texas Pacific Land Co. (NYSE:TPL) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 168.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 25,308 shares of the financial services provider's stock after acquiring an additional 15,863 shares during the period. Hsbc Holdings PLC owned about 0.11% of Texas Pacific Land worth $28,035,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in TPL. Vanguard Group Inc. raised its stake in shares of Texas Pacific Land by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after acquiring an additional 260,278 shares during the period. Invesco Ltd. increased its stake in Texas Pacific Land by 203.4% during the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after buying an additional 200,841 shares during the period. Geode Capital Management LLC increased 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. York GP Ltd. purchased a new stake in Texas Pacific Land during the 4th quarter worth approximately $101,859,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Texas Pacific Land by 31.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock worth $198,669,000 after buying an additional 43,217 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the business's stock in a transaction that occurred on 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the transaction, the vice president now owns 1,393 shares of the company's stock, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired a total of 90 shares of company stock valued at $117,505 in the last ninety days. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Trading Up 1.3 %

TPL traded up $17.89 during trading hours on Monday, hitting $1,352.52. 60,383 shares of the company's stock were exchanged, compared to its average volume of 153,988. Texas Pacific Land Co. has a 12-month low of $555.71 and a 12-month high of $1,769.14. The firm has a 50 day moving average of $1,305.89 and a 200 day moving average of $1,297.85. The firm has a market cap of $31.09 billion, a P/E ratio of 68.59 and a beta of 1.44.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share 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 for the quarter.

Texas Pacific Land Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's payout ratio is currently 32.45%.

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.