Cibc World Markets Corp Acquires 1,860 Shares of Texas Pacific Land Co. (NYSE:TPL)

Cibc World Markets Corp grew its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 163.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,999 shares of the financial services provider's stock after acquiring an additional 1,860 shares during the period. Cibc World Markets Corp's holdings in Texas Pacific Land were worth $3,317,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Assetmark Inc. bought a new position in Texas Pacific Land in the fourth quarter valued at approximately $29,000. Atala Financial Inc bought a new position in shares of Texas Pacific Land in the fourth quarter valued at $31,000. Quest Partners LLC acquired a new position in Texas Pacific Land during the third quarter worth $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Texas Pacific Land during the fourth quarter worth $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Texas Pacific Land by 21.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock valued at $76,000 after acquiring an additional 12 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Transactions at Texas Pacific Land

In other news, CFO Chris Steddum sold 214 shares of the business's 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 completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction that occurred on 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 transaction, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 56 shares of company stock worth $74,564. 6.50% of the stock is owned by insiders.

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Texas Pacific Land Stock Performance

NYSE:TPL traded up $59.26 during mid-day trading on Monday, hitting $1,332.41. The stock had a trading volume of 38,388 shares, compared to its average volume of 140,809. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14. The stock has a market cap of $30.63 billion, a price-to-earnings ratio of 67.57 and a beta of 1.69. The company's 50 day simple moving average is $1,350.80 and its 200 day simple moving average is $1,226.35.

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

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's payout ratio is presently 32.45%.

Texas Pacific Land Company 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.