Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 127.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,499 shares of the financial services provider's stock after acquiring an additional 16,532 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.13% of Texas Pacific Land worth $35,724,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of TPL. Caprock Group LLC increased its stake in Texas Pacific Land by 3.0% during the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider's stock valued at $302,000 after purchasing an additional 8 shares in the last quarter. Signaturefd LLC lifted its position in shares of Texas Pacific Land by 11.1% during the fourth quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock valued at $111,000 after purchasing an additional 10 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted 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 worth $76,000 after buying an additional 12 shares during the last quarter. Glenmede Trust Co. NA grew its stake in Texas Pacific Land by 3.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider's stock valued at $390,000 after purchasing an additional 13 shares during the period. Finally, M&T Bank Corp boosted its holdings in shares of Texas Pacific Land by 2.1% in the 4th quarter. M&T Bank Corp now owns 941 shares of the financial services provider's stock worth $1,041,000 after buying an additional 19 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, VP Micheal W. Dobbs sold 1,150 shares of the business'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 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the stock in a transaction dated 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 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 bought 70 shares of company stock valued at $93,775 in the last 90 days. Insiders own 6.50% of the company's stock.
Texas Pacific Land Stock Up 1.9 %
TPL traded up $25.09 during trading on Tuesday, hitting $1,350.08. 133,163 shares of the company traded hands, compared to its average volume of 148,391. The firm has a market cap of $31.03 billion, a P/E ratio of 68.46 and a beta of 1.69. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14. The stock's fifty day moving average is $1,347.30 and its 200 day moving average is $1,249.46.
Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The firm 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 company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. Texas Pacific Land's payout ratio is presently 32.45%.
About Texas Pacific Land
(
Free Report)
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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