O Shaughnessy Asset Management LLC lifted its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 21.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,403 shares of the financial services provider's stock after purchasing an additional 427 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Texas Pacific Land were worth $2,658,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Assetmark Inc. bought a new position in Texas Pacific Land during the 4th quarter worth $29,000. Atala Financial Inc bought a new position in shares of Texas Pacific Land in the fourth quarter worth $31,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Texas Pacific Land in the fourth quarter worth $66,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in Texas Pacific Land by 21.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock valued at $76,000 after purchasing an additional 12 shares in the last quarter. Finally, Sentry Investment Management LLC bought a new stake in Texas Pacific Land during the fourth quarter worth about $87,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CFO Chris Steddum sold 214 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the transaction, the chief financial officer now owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction that occurred 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 sale, the vice president now directly owns 1,393 shares in the company, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired a total of 74 shares of company stock worth $98,891 in the last ninety days. 6.50% of the stock is owned by insiders.
Texas Pacific Land Trading Down 0.5 %
Texas Pacific Land stock traded down $5.92 during trading hours on Tuesday, reaching $1,148.00. 50,684 shares of the stock were exchanged, compared to its average volume of 135,306. The stock has a 50 day moving average of $1,334.28 and a two-hundred day moving average of $1,262.71. The company has a market cap of $26.39 billion, a P/E ratio of 58.21 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.
Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $185.78 million for the quarter.
Texas Pacific Land Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $1.60 per share. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.56%. Texas Pacific Land's dividend payout ratio (DPR) is currently 32.45%.
About Texas Pacific Land
(
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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