Texas Pacific Land Co. (NYSE:TPL) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 28.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,105 shares of the financial services provider's stock after purchasing an additional 6,305 shares during the quarter. Renaissance Technologies LLC owned 0.12% of Texas Pacific Land worth $31,083,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Texas Pacific Land by 19.9% in the 4th quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock valued at $44,979,000 after acquiring an additional 6,747 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Texas Pacific Land by 5.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider's stock valued at $7,864,000 after purchasing an additional 431 shares during the period. Everence Capital Management Inc. purchased a new position in Texas Pacific Land in the fourth quarter valued at about $641,000. Miracle Mile Advisors LLC acquired a new position in shares of Texas Pacific Land during the fourth quarter worth about $8,545,000. Finally, Brave Asset Management Inc. boosted its position in shares of Texas Pacific Land by 87.1% in the fourth quarter. Brave Asset Management Inc. now owns 537 shares of the financial services provider's stock worth $594,000 after buying an additional 250 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

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Insider Activity

In other news, CFO Chris Steddum sold 214 shares of the 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 transaction of $281,193.86. Following the completion of the transaction, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land 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 completion of the sale, the vice president now owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired 83 shares of company stock worth $108,753 over the last ninety days. Corporate insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded up $15.30 during mid-day trading on Tuesday, hitting $1,262.83. 80,489 shares of the company traded hands, compared to its average volume of 152,460. The firm has a market cap of $29.03 billion, a P/E ratio of 64.04 and a beta of 1.44. Texas Pacific Land Co. has a 52-week low of $555.71 and a 52-week high of $1,769.14. The firm's 50 day simple moving average is $1,318.58 and its 200 day simple moving average is $1,274.27.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The business 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.51%. Texas Pacific Land's payout ratio is currently 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.