Shelton Capital Management grew its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 161.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,906 shares of the financial services provider's stock after purchasing an additional 1,178 shares during the quarter. Shelton Capital Management's holdings in Texas Pacific Land were worth $2,108,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. purchased a new stake in Texas Pacific Land in the fourth quarter worth $29,000. Atala Financial Inc bought a new stake in Texas Pacific Land in the 4th quarter valued at about $31,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Texas Pacific Land during the fourth quarter valued at about $66,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in Texas Pacific Land by 21.1% in the 4th 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 in the last quarter. Finally, Sentry Investment Management LLC purchased a new stake in shares of Texas Pacific Land during the fourth quarter worth $87,000. 59.94% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other Texas Pacific Land news, 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 value of $281,193.86. Following the sale, the chief financial officer now owns 3,502 shares of the company's stock, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the transaction, the vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 78 shares of company stock valued at $102,694. Insiders own 6.50% of the company's stock.
Texas Pacific Land Stock Up 4.1 %
Shares of NYSE:TPL traded up $48.99 during midday trading on Friday, reaching $1,235.66. 100,842 shares of the company traded hands, compared to its average volume of 152,368. Texas Pacific Land Co. has a 12 month low of $555.71 and a 12 month high of $1,769.14. The firm's fifty day moving average price is $1,321.56 and its two-hundred day moving average price is $1,269.00. The firm has a market capitalization of $28.40 billion, a price-to-earnings ratio of 62.66 and a beta of 1.44.
Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The company had revenue of $185.78 million during 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $1.60 per share. The ex-dividend date was Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.52%. Texas Pacific Land's payout ratio 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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