Seneschal Advisors LLC Buys New Shares in Texas Pacific Land Co. (NYSE:TPL)

Seneschal Advisors LLC bought a new stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,703 shares of the financial services provider's stock, valued at approximately $2,989,000. Texas Pacific Land comprises 2.5% of Seneschal Advisors LLC's investment portfolio, making the stock its 10th largest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Texas Pacific Land by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock worth $2,599,426,000 after buying an additional 260,278 shares during the period. Geode Capital Management LLC raised its stake in Texas Pacific Land by 34.5% during the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock valued at $693,023,000 after purchasing an additional 159,597 shares during the period. Invesco Ltd. boosted its position in shares of Texas Pacific Land by 203.4% in the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after buying an additional 200,841 shares during the period. Charles Schwab Investment Management Inc. raised its position in Texas Pacific Land by 31.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock valued at $198,669,000 after buying an additional 43,217 shares during the period. Finally, Douglass Winthrop Advisors LLC lifted its stake in Texas Pacific Land by 0.3% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 99,457 shares of the financial services provider's stock worth $109,995,000 after acquiring an additional 259 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction that occurred 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 transaction, the vice president now owns 1,393 shares of the company's stock, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction on Friday, March 14th. The shares were 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 owns 3,502 shares in the company, valued at $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 acquired 82 shares of company stock worth $107,353. Corporate insiders own 6.50% of the company's stock.

Texas Pacific Land Trading Up 1.4 %

NYSE:TPL traded up $17.44 on Wednesday, hitting $1,281.71. 43,871 shares of the company's stock traded hands, compared to its average volume of 152,058. The firm has a 50-day moving average price of $1,317.16 and a 200-day moving average price of $1,274.19. The company has a market cap of $29.46 billion, a PE ratio of 65.00 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.

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 (EPS) for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The company had revenue of $185.78 million during the quarter.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $1.60 per share. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.50%. Texas Pacific Land's dividend payout ratio is currently 32.45%.

About Texas Pacific Land

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.