Texas Pacific Land Co. (NYSE:TPL) Shares Bought by Invesco Ltd.

Invesco Ltd. increased its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 203.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 299,578 shares of the financial services provider's stock after purchasing an additional 200,841 shares during the period. Invesco Ltd. owned 1.30% of Texas Pacific Land worth $331,321,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. FMR LLC grew its position in shares of Texas Pacific Land by 41.5% during the third quarter. FMR LLC now owns 2,525 shares of the financial services provider's stock worth $2,234,000 after acquiring an additional 740 shares during the last quarter. Walleye Capital LLC acquired a new stake in Texas Pacific Land during the 3rd quarter worth $226,000. Janus Henderson Group PLC grew its position in Texas Pacific Land by 7.7% during the 3rd quarter. Janus Henderson Group PLC now owns 1,496 shares of the financial services provider's stock worth $1,323,000 after purchasing an additional 107 shares during the last quarter. Quantinno Capital Management LP increased its stake in Texas Pacific Land by 63.5% in the third quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider's stock valued at $2,634,000 after purchasing an additional 1,156 shares during the period. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Texas Pacific Land in the third quarter valued at about $900,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the sale, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction that occurred on 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 directly owns 1,393 shares in the company, valued at $1,771,227.36. This represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 78 shares of company stock worth $102,694. 6.50% of the stock is owned by insiders.

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Texas Pacific Land Trading Up 4.1 %

Shares of TPL traded up $48.99 during mid-day trading on Friday, hitting $1,235.66. 100,842 shares of the company's stock were exchanged, compared to its average volume of 152,368. The firm has a market capitalization of $28.40 billion, a P/E ratio of 62.66 and a beta of 1.44. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The business's 50 day moving average is $1,321.56 and its two-hundred day moving average is $1,269.00.

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 return on equity of 40.23% and a net margin of 64.32%. The company had revenue of $185.78 million for the quarter.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $1.60 per share. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.52%. Texas Pacific Land's payout ratio is currently 32.45%.

Texas Pacific Land 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.