Franklin Resources Inc. Acquires 1,919 Shares of Texas Pacific Land Co. (NYSE:TPL)

Franklin Resources Inc. grew its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 13.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,286 shares of the financial services provider's stock after buying an additional 1,919 shares during the period. Franklin Resources Inc. owned 0.07% of Texas Pacific Land worth $18,011,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Texas Pacific Land by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after buying an additional 260,278 shares during the last quarter. State Street Corp boosted its holdings in shares of Texas Pacific Land by 3.8% during the third quarter. State Street Corp now owns 762,627 shares of the financial services provider's stock worth $674,727,000 after acquiring an additional 27,884 shares during the period. Geode Capital Management LLC grew its position in shares of Texas Pacific Land by 21.5% in the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider's stock valued at $411,943,000 after purchasing an additional 81,974 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Texas Pacific Land by 31.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock worth $198,669,000 after purchasing an additional 43,217 shares during the period. Finally, Douglass Winthrop Advisors LLC increased its stake in shares of Texas Pacific Land by 0.3% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 99,457 shares of the financial services provider's stock worth $109,995,000 after purchasing an additional 259 shares during the period. 59.94% of the stock is currently owned by institutional investors.

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Texas Pacific Land Price Performance

TPL traded up $48.99 during trading on Friday, hitting $1,235.66. The stock had a trading volume of 100,842 shares, compared to its average volume of 152,368. The company has a 50 day moving average price of $1,321.56 and a 200-day moving average price of $1,269.00. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14. The firm has a market cap 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 announced its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The company had revenue of $185.78 million during the quarter.

Texas Pacific Land Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.52%. Texas Pacific Land's payout ratio is presently 32.45%.

Insider Transactions at Texas Pacific Land

In related news, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $1,462,248.00. Following 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 disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 78 shares of company stock valued at $102,694. 6.50% of the stock is currently owned by company insiders.

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.