Bank of Nova Scotia Has $2.56 Million Holdings in Texas Pacific Land Co. (NYSE:TPL)

Bank of Nova Scotia grew its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 144.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,317 shares of the financial services provider's stock after buying an additional 1,368 shares during the quarter. Bank of Nova Scotia's holdings in Texas Pacific Land were worth $2,563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Assetmark Inc. acquired a new position in Texas Pacific Land in the fourth quarter worth $29,000. Atala Financial Inc bought a new position in Texas Pacific Land in the 4th quarter worth approximately $31,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Texas Pacific Land during the 4th quarter worth $66,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of 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 period. Finally, Sentry Investment Management LLC bought a new stake in shares of Texas Pacific Land during the fourth quarter worth $87,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Activity at Texas Pacific Land

In other news, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the sale, the vice president now directly owns 1,393 shares of the company's stock, valued at $1,771,227.36. This represents a 45.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the transaction, the chief financial officer now directly owns 3,502 shares in the company, valued at $4,601,592.98. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 84 shares of company stock worth $109,748. 6.50% of the stock is owned by insiders.

Texas Pacific Land Trading Up 1.4 %

Texas Pacific Land stock traded up $17.93 during mid-day trading on Friday, hitting $1,295.51. The stock had a trading volume of 103,730 shares, compared to its average volume of 152,865. The stock has a 50-day simple moving average of $1,314.16 and a two-hundred day simple moving average of $1,277.05. The stock has a market capitalization of $29.78 billion, a PE ratio of 65.70 and a beta of 1.44. Texas Pacific Land Co. has a 12 month low of $555.71 and a 12 month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid 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 0.49%. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.

Texas Pacific Land Profile

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.