Price T Rowe Associates Inc. MD grew its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 943.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 121,055 shares of the financial services provider's stock after buying an additional 109,455 shares during the period. Price T Rowe Associates Inc. MD owned 0.53% of Texas Pacific Land worth $133,883,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. raised its holdings in Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after purchasing an additional 13 shares during the last quarter. Assetmark Inc. bought a new stake in shares of Texas Pacific Land during the fourth quarter worth approximately $29,000. Atala Financial Inc acquired a new position in Texas Pacific Land in the fourth quarter valued at approximately $31,000. TD Waterhouse Canada Inc. boosted its stake in Texas Pacific Land by 45.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 15 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Texas Pacific Land during the 4th quarter worth $66,000. Institutional investors own 59.94% of the company's stock.
Texas Pacific Land Stock Down 0.2 %
TPL stock opened at $1,333.73 on Friday. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14. The company has a market cap of $30.66 billion, a P/E ratio of 67.63 and a beta of 1.44. The business's fifty day moving average is $1,306.98 and its 200-day moving average is $1,293.77.
Texas Pacific Land (NYSE:TPL - Get Free Report) last released 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 for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.
Texas Pacific Land Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's dividend payout ratio is currently 32.45%.
Insiders Place Their Bets
In related news, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction on 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 sale, the chief financial officer now owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the business's stock in a transaction dated 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 transaction, the vice president now directly owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 88 shares of company stock worth $114,764. Company insiders own 6.50% of the company's stock.
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.
Read More
Want to see what other hedge funds are holding TPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Pacific Land Co. (NYSE:TPL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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