PKS Advisory Services LLC Makes New $322,000 Investment in Texas Pacific Land Co. (NYSE:TPL)

PKS Advisory Services LLC acquired a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 290 shares of the financial services provider's stock, valued at approximately $322,000.

Other large investors have also recently made changes to their positions in the company. Assetmark Inc. bought a new position in Texas Pacific Land during the fourth quarter valued at about $29,000. Atala Financial Inc bought a new position in shares of Texas Pacific Land during the 4th quarter valued at approximately $31,000. Quest Partners LLC purchased a new stake in shares of Texas Pacific Land during the 3rd quarter worth approximately $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Texas Pacific Land in the 4th quarter worth approximately $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in Texas Pacific Land by 21.1% during 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 during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

Shares of TPL traded down $24.05 during mid-day trading on Friday, hitting $1,307.86. The stock had a trading volume of 103,050 shares, compared to its average volume of 148,528. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14. The business has a fifty day moving average price of $1,348.93 and a 200-day moving average price of $1,242.51. The firm has a market cap of $30.06 billion, a P/E ratio of 66.32 and a beta of 1.69.

Remove Ads

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results 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 during 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 business 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 was Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. Texas Pacific Land's dividend payout ratio is currently 32.45%.

Insider Activity

In other news, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction dated 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 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 filing with the SEC, which is available at this link. Also, CFO Chris Steddum sold 214 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 3,502 shares in the company, 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 three months, insiders purchased 68 shares of company stock worth $91,008. 6.50% of the stock is owned by corporate insiders.

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.