Russell Investments Group Ltd. Purchases 1,340 Shares of Texas Pacific Land Co. (NYSE:TPL)

Russell Investments Group Ltd. grew its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 16.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,501 shares of the financial services provider's stock after purchasing an additional 1,340 shares during the period. Russell Investments Group Ltd.'s holdings in Texas Pacific Land were worth $10,509,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. purchased a new position in Texas Pacific Land during the fourth quarter worth about $29,000. Atala Financial Inc purchased a new position in shares of Texas Pacific Land during the fourth quarter worth about $31,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Texas Pacific Land in the fourth quarter worth approximately $66,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in Texas Pacific Land by 21.1% in 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 in the last quarter. Finally, Sentry Investment Management LLC bought a new stake in Texas Pacific Land during the fourth quarter valued at approximately $87,000. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Price Performance

TPL stock traded up $15.30 during midday trading on Tuesday, reaching $1,262.83. The company had a trading volume of 80,489 shares, compared to its average volume of 152,234. The firm has a 50-day moving average price of $1,318.58 and a 200-day moving average price of $1,274.27. The company has a market capitalization of $29.03 billion, a P/E ratio of 64.04 and a beta of 1.44. Texas Pacific Land Co. has a 1 year low of $555.71 and a 1 year high of $1,769.14.

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Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The business had revenue of $185.78 million for the quarter.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors 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 32.45%.

Insider Buying and Selling

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the business's stock in a transaction 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 directly owns 1,393 shares of the company's stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 3,502 shares in the company, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought 83 shares of company stock worth $108,753 in the last quarter. 6.50% of the stock is owned by 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.