Syon Capital LLC Invests $231,000 in Texas Pacific Land Co. (NYSE:TPL)

Syon Capital LLC purchased a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 209 shares of the financial services provider's stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TPL. Bessemer Group Inc. lifted its position in shares of Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 13 shares during the period. Assetmark Inc. purchased a new position in Texas Pacific Land in the 4th quarter valued at approximately $29,000. Atala Financial Inc acquired a new position in Texas Pacific Land during the fourth quarter worth $31,000. TD Waterhouse Canada Inc. boosted its position in Texas Pacific Land by 45.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock worth $53,000 after purchasing an additional 15 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Texas Pacific Land in the fourth quarter valued at $66,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Down 0.2 %

Shares of TPL stock opened at $1,333.73 on Friday. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The business has a fifty day simple moving average of $1,306.98 and a 200-day simple moving average of $1,293.77. The stock has a market cap of $30.66 billion, a P/E ratio of 67.63 and a beta of 1.44.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share 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 business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's payout ratio is currently 32.45%.

Insider Buying and Selling at Texas Pacific Land

In related news, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction on Thursday, March 13th. The stock was 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land 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 sale, the chief financial officer now owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 88 shares of company stock worth $114,764. 6.50% of the stock is owned by 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.

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