Stevens Capital Management LP Takes $358,000 Position in Texas Pacific Land Co. (NYSE:TPL)

Stevens Capital Management LP acquired a new position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 324 shares of the financial services provider's stock, valued at approximately $358,000.

Several other large investors have also modified their holdings of TPL. Assetmark Inc. purchased a new stake in Texas Pacific Land during the 4th quarter valued at approximately $29,000. Atala Financial Inc acquired a new position in shares of Texas Pacific Land in the fourth quarter valued at approximately $31,000. Quest Partners LLC purchased a new stake in shares of Texas Pacific Land during the third quarter worth approximately $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Texas Pacific Land during the fourth quarter worth $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position 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 during the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Texas Pacific Land stock traded down $24.05 during trading hours on Friday, reaching $1,307.86. 103,050 shares of the stock were exchanged, compared to its average volume of 148,528. Texas Pacific Land Co. has a 52-week low of $555.71 and a 52-week high of $1,769.14. The stock has a market cap of $30.06 billion, a P/E ratio of 66.32 and a beta of 1.69. The firm's 50 day moving average is $1,348.93 and its 200 day moving average is $1,239.36.

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Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The firm 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. Investors of record on Monday, March 3rd were paid a $1.60 dividend. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.49%. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.

Insider Activity at Texas Pacific Land

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 transaction of $1,462,248.00. Following the sale, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Chris Steddum sold 214 shares of the stock in a transaction dated 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 of the company's stock, valued at $4,601,592.98. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired a total of 68 shares of company stock worth $91,008 over the last three months. 6.50% of the stock is currently owned by corporate insiders.

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.