New Age Alpha Advisors LLC purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,824 shares of the financial services provider's stock, valued at approximately $3,123,000.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Texas Pacific Land by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after purchasing an additional 260,278 shares during the period. State Street Corp raised its holdings in 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 acquiring an additional 27,884 shares during the period. Geode Capital Management LLC lifted 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 worth $411,943,000 after acquiring an additional 81,974 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Texas Pacific Land by 31.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock worth $198,669,000 after buying an additional 43,217 shares during the period. Finally, Douglass Winthrop Advisors LLC grew its stake in shares of Texas Pacific Land by 0.3% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 99,457 shares of the financial services provider's stock valued at $109,995,000 after acquiring an additional 259 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.
Insider Activity
In related news, VP Micheal W. Dobbs sold 1,150 shares of the company'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 sale, the vice president now directly owns 1,393 shares in the company, valued at $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Chris Steddum sold 214 shares of the business's 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 completion of 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 disclosure for this sale can be found here. In the last three months, insiders have purchased 70 shares of company stock worth $93,775. Corporate insiders own 6.50% of the company's stock.
Texas Pacific Land Stock Up 1.9 %
Shares of TPL traded up $25.09 during mid-day trading on Tuesday, hitting $1,350.08. 133,163 shares of the company's stock were exchanged, compared to its average volume of 148,391. The firm has a market cap of $31.03 billion, a price-to-earnings ratio of 68.46 and a beta of 1.69. The stock's 50-day simple moving average is $1,347.30 and its 200-day simple moving average is $1,249.46. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The business had revenue of $185.78 million during the quarter.
Texas Pacific Land Announces Dividend
The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's dividend payout ratio is presently 32.45%.
Texas Pacific Land Company 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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