JPMorgan Chase & Co. Purchases 6,747 Shares of Texas Pacific Land Co. (NYSE:TPL)

JPMorgan Chase & Co. lifted its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 19.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 40,670 shares of the financial services provider's stock after purchasing an additional 6,747 shares during the period. JPMorgan Chase & Co. owned 0.18% of Texas Pacific Land worth $44,979,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPL. Quantinno Capital Management LP grew its holdings 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 during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Texas Pacific Land by 5.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider's stock valued at $7,864,000 after purchasing an additional 431 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Texas Pacific Land during the fourth quarter valued at approximately $641,000. Miracle Mile Advisors LLC acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at approximately $8,545,000. Finally, Brave Asset Management Inc. raised its position in Texas Pacific Land by 87.1% in the 4th quarter. Brave Asset Management Inc. now owns 537 shares of the financial services provider's stock worth $594,000 after purchasing an additional 250 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

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Texas Pacific Land Stock Up 4.1 %

NYSE:TPL traded up $48.99 during trading hours on Friday, hitting $1,235.66. 100,842 shares of the stock were exchanged, compared to its average volume of 152,368. The company's 50 day moving average is $1,321.56 and its two-hundred day moving average is $1,269.00. The company 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 twelve month low of $555.71 and a twelve month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The business had revenue of $185.78 million for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the transaction, the vice president now owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total value 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 position. The disclosure for this sale can be found here. Insiders acquired a total of 78 shares of company stock worth $102,694 in the last quarter. 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.