Mirae Asset Global Investments Co. Ltd. raised its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 1,900.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,680 shares of the financial services provider's stock after purchasing an additional 1,596 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Texas Pacific Land were worth $1,921,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Spirit of America Management Corp NY grew its stake in Texas Pacific Land by 3.3% in the fourth quarter. Spirit of America Management Corp NY now owns 1,555 shares of the financial services provider's stock valued at $1,720,000 after purchasing an additional 50 shares in the last quarter. abrdn plc grew its stake in Texas Pacific Land by 22.1% in the fourth quarter. abrdn plc now owns 5,573 shares of the financial services provider's stock valued at $6,265,000 after purchasing an additional 1,008 shares in the last quarter. Trust Point Inc. bought a new position in Texas Pacific Land in the fourth quarter valued at approximately $273,000. Greenleaf Trust bought a new position in Texas Pacific Land in the fourth quarter valued at approximately $202,000. Finally, Western Financial Corp CA bought a new position in Texas Pacific Land in the fourth quarter valued at approximately $554,000. 59.94% of the stock is currently owned by institutional investors.
Texas Pacific Land Price Performance
TPL stock traded up $19.23 during mid-day trading on Friday, reaching $1,372.41. The company had a trading volume of 85,792 shares, compared to its average volume of 124,386. The stock has a 50 day simple moving average of $1,271.88 and a two-hundred day simple moving average of $1,130.03. The company has a market capitalization of $31.54 billion, a price-to-earnings ratio of 70.42 and a beta of 1.68. Texas Pacific Land Co. has a 52 week low of $489.47 and a 52 week high of $1,769.14.
Texas Pacific Land Profile
(
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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