Schroder Investment Management Group grew its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,655 shares of the financial services provider's stock after purchasing an additional 509 shares during the quarter. Schroder Investment Management Group's holdings in Texas Pacific Land were worth $5,155,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in TPL. Caprock Group LLC boosted its holdings in Texas Pacific Land by 3.0% in the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider's stock valued at $302,000 after acquiring an additional 8 shares in the last quarter. Signaturefd LLC lifted its position in Texas Pacific Land by 11.1% during the fourth quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock valued at $111,000 after buying an additional 10 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position 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 buying an additional 12 shares during the period. M&T Bank Corp lifted its position in Texas Pacific Land by 2.1% during the fourth quarter. M&T Bank Corp now owns 941 shares of the financial services provider's stock valued at $1,041,000 after buying an additional 19 shares during the period. Finally, Peloton Wealth Strategists raised its position in shares of Texas Pacific Land by 1.8% in the 3rd quarter. Peloton Wealth Strategists now owns 1,271 shares of the financial services provider's stock worth $1,125,000 after purchasing an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.
Insiders Place Their Bets
In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the vice president now owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 76 shares of company stock valued at $100,684. 6.50% of the stock is owned by insiders.
Texas Pacific Land Stock Performance
Shares of TPL traded down $82.29 during trading hours on Thursday, hitting $1,181.20. The company had a trading volume of 22,975 shares, compared to its average volume of 151,796. The firm has a fifty day moving average price of $1,327.06 and a 200-day moving average price of $1,265.21. The stock has a market capitalization of $27.15 billion, a price-to-earnings ratio of 59.90 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.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The firm had revenue of $185.78 million during the quarter.
Texas Pacific Land Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's dividend payout ratio (DPR) is 32.45%.
About Texas Pacific Land
(
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.
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