Mizuho Securities USA LLC purchased a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,786 shares of the financial services provider's stock, valued at approximately $1,975,000.
A number of other institutional investors have also recently modified their holdings of the business. Quest Partners LLC purchased a new position in shares of Texas Pacific Land in the 3rd quarter valued at about $50,000. Caprock Group LLC acquired a new position in Texas Pacific Land during the third quarter worth about $234,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Texas Pacific Land in the third quarter valued at about $395,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Texas Pacific Land by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider's stock worth $120,694,000 after acquiring an additional 1,984 shares in the last quarter. Finally, Citigroup Inc. boosted its position in Texas Pacific Land by 18.0% during the third quarter. Citigroup Inc. now owns 24,318 shares of the financial services provider's stock worth $21,515,000 after purchasing an additional 3,717 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.
Texas Pacific Land Trading Down 1.8 %
Shares of TPL stock traded down $24.05 during mid-day trading on Friday, reaching $1,307.86. The stock had a trading volume of 103,050 shares, compared to its average volume of 148,528. Texas Pacific Land Co. has a 12-month low of $555.71 and a 12-month high of $1,769.14. The business has a 50-day simple moving average of $1,350.96 and a 200 day simple moving average of $1,235.78. The company has a market cap of $30.06 billion, a P/E ratio of 66.32 and a beta of 1.69.
Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The company had revenue of $185.78 million for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.
Texas Pacific Land Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's dividend payout ratio (DPR) is 32.45%.
Insider Buying and Selling
In related news, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction 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 transaction, the chief financial officer now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction 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 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 disclosure for this sale can be found here. Over the last quarter, insiders purchased 68 shares of company stock valued at $91,008. Insiders own 6.50% of the company's stock.
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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