Texas Pacific Land Co. (NYSE:TPL) Shares Acquired by Pinebridge Investments L.P.

Pinebridge Investments L.P. increased its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 125.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,812 shares of the financial services provider's stock after buying an additional 4,351 shares during the quarter. Pinebridge Investments L.P.'s holdings in Texas Pacific Land were worth $8,640,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Texas Pacific Land by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after acquiring an additional 260,278 shares during the period. Invesco Ltd. increased its stake in Texas Pacific Land by 203.4% in the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock valued at $331,321,000 after purchasing an additional 200,841 shares during the period. Geode Capital Management LLC raised its holdings in shares of Texas Pacific Land by 34.5% in the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock valued at $693,023,000 after buying an additional 159,597 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Texas Pacific Land by 943.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock worth $133,883,000 after buying an additional 109,455 shares during the last quarter. Finally, York GP Ltd. purchased a new stake in Texas Pacific Land during the 4th quarter valued at approximately $101,859,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Buying and Selling

In other news, CFO Chris Steddum sold 214 shares of the firm'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 value of $281,193.86. Following the completion of the sale, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $1,462,248.00. Following the completion of the sale, the vice president now owns 1,393 shares in the company, valued at approximately $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 bought 90 shares of company stock valued at $117,505 over the last ninety days. Corporate insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Performance

Texas Pacific Land stock traded up $17.89 during mid-day trading on Monday, reaching $1,352.52. 60,383 shares of the company were exchanged, compared to its average volume of 153,988. The firm has a market cap of $31.09 billion, a PE ratio of 68.59 and a beta of 1.44. The firm's 50-day simple moving average is $1,306.98 and its two-hundred day simple moving average is $1,295.81. 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 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 net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid 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 0.47%. Texas Pacific Land's dividend payout ratio (DPR) is 32.45%.

Texas Pacific Land 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.