KLP Kapitalforvaltning AS Acquires Shares of 4,900 Texas Pacific Land Co. (NYSE:TPL)

KLP Kapitalforvaltning AS bought a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,900 shares of the financial services provider's stock, valued at approximately $5,419,000.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp increased its holdings in shares of Texas Pacific Land by 3.8% in the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider's stock valued at $674,727,000 after purchasing an additional 27,884 shares during the period. Geode Capital Management LLC grew its position in Texas Pacific Land by 21.5% during the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider's stock valued at $411,943,000 after purchasing an additional 81,974 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Texas Pacific Land by 31.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock valued at $198,669,000 after buying an additional 43,217 shares during the period. Douglass Winthrop Advisors LLC lifted its position in Texas Pacific Land by 0.3% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 99,457 shares of the financial services provider's stock worth $109,995,000 after buying an additional 259 shares in the last quarter. Finally, York GP Ltd. acquired a new stake in shares of Texas Pacific Land during the 4th quarter valued at $101,859,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the firm'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 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 approximately $1,771,227.36. This trade represents a 45.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Chris Steddum sold 214 shares of the company's stock in a transaction dated 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 sale, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders acquired 68 shares of company stock worth $91,008. Corporate insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Performance

Shares of NYSE TPL traded down $24.05 during mid-day trading on Friday, reaching $1,307.86. The company had a trading volume of 103,050 shares, compared to its average volume of 148,528. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14. The stock's 50 day moving average is $1,348.93 and its 200-day moving average is $1,242.51. The stock has a market capitalization of $30.06 billion, a PE ratio of 66.32 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's payout ratio is presently 32.45%.

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.