National Bank of Canada FI Raises Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

National Bank of Canada FI boosted its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 313.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,015 shares of the financial services provider's stock after buying an additional 6,833 shares during the quarter. National Bank of Canada FI's holdings in Texas Pacific Land were worth $9,970,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPL. Quantinno Capital Management LP grew its holdings in shares of 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 valued at $2,634,000 after purchasing an additional 1,156 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings 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 worth $7,864,000 after buying an additional 431 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Texas Pacific Land during the 4th quarter valued at $641,000. JPMorgan Chase & Co. increased its holdings in Texas Pacific Land by 19.9% in the 4th quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock worth $44,979,000 after purchasing an additional 6,747 shares in the last quarter. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of Texas Pacific Land during the fourth quarter valued at about $8,545,000. Institutional investors own 59.94% of the company's stock.

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Insider Activity

In other news, CFO Chris Steddum sold 214 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was 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 directly owns 3,502 shares of the company's stock, valued at $4,601,592.98. This 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 through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the completion of the sale, the vice president now directly owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 76 shares of company stock worth $100,684. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded down $93.44 during mid-day trading on Thursday, reaching $1,170.05. 33,987 shares of the company's stock were exchanged, compared to its average volume of 151,828. The firm has a market capitalization of $26.89 billion, a price-to-earnings ratio of 59.42 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. The business's fifty day moving average price is $1,327.06 and its 200-day moving average price is $1,265.21.

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. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The firm had revenue of $185.78 million during the quarter.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.55%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's dividend payout ratio (DPR) is currently 32.45%.

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.