Pictet Asset Management Holding SA grew its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,652 shares of the financial services provider's stock after buying an additional 1,109 shares during the period. Pictet Asset Management Holding SA's holdings in Texas Pacific Land were worth $8,463,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. boosted its position in Texas Pacific Land by 2.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 9,119 shares of the financial services provider's stock worth $10,085,000 after purchasing an additional 231 shares during the period. New Age Alpha Advisors LLC acquired a new position in Texas Pacific Land in the 4th quarter valued at about $3,123,000. Blair William & Co. IL raised its holdings in Texas Pacific Land by 4.9% in the 4th quarter. Blair William & Co. IL now owns 8,347 shares of the financial services provider's stock valued at $9,231,000 after acquiring an additional 390 shares during the period. NEOS Investment Management LLC acquired a new stake in Texas Pacific Land during the fourth quarter worth approximately $1,032,000. Finally, UniSuper Management Pty Ltd boosted its holdings in shares of Texas Pacific Land by 396.2% during the fourth quarter. UniSuper Management Pty Ltd now owns 2,203 shares of the financial services provider's stock worth $2,436,000 after acquiring an additional 1,759 shares during the period. 59.94% of the stock is currently owned by institutional investors.
Insider Transactions at Texas Pacific Land
In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the transaction, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Chris Steddum sold 214 shares of the company's stock in a transaction on 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 sale, the chief financial officer now owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 74 shares of company stock valued at $98,891. 6.50% of the stock is currently owned by company insiders.
Texas Pacific Land Stock Performance
Shares of NYSE TPL traded up $74.57 during trading hours on Monday, reaching $1,153.57. 366,727 shares of the stock were exchanged, compared to its average volume of 151,252. The firm has a market capitalization of $26.51 billion, a price-to-earnings ratio of 58.50 and a beta of 1.44. The stock's fifty day simple moving average is $1,334.28 and its 200 day simple moving average is $1,262.71. 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 data on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The firm had revenue of $185.78 million for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.
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 given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.55%. Texas Pacific Land's payout ratio is presently 32.45%.
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.
Further Reading
Before you consider Texas Pacific Land, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Texas Pacific Land wasn't on the list.
While Texas Pacific Land currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
