One Charles Private Wealth Services LLC raised its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 25,194 shares of the financial services provider's stock after purchasing an additional 1,132 shares during the quarter. Texas Pacific Land accounts for about 9.4% of One Charles Private Wealth Services LLC's investment portfolio, making the stock its 2nd biggest position. One Charles Private Wealth Services LLC owned about 0.11% of Texas Pacific Land worth $27,863,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in TPL. Assetmark Inc. bought a new stake in Texas Pacific Land in the 4th quarter valued at $29,000. Atala Financial Inc acquired a new stake in shares of Texas Pacific Land during the 4th quarter valued at about $31,000. Quest Partners LLC bought a new stake in Texas Pacific Land in the third quarter valued at about $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Texas Pacific Land in the fourth quarter worth about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock worth $76,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 59.94% of the company's stock.
Insiders Place Their Bets
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 value of $281,193.86. Following the transaction, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at $4,601,592.98. The trade was a 5.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were 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 of the company's stock, valued at $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 56 shares of company stock valued at $74,564. 6.50% of the stock is currently owned by insiders.
Texas Pacific Land Stock Performance
NYSE TPL traded up $66.63 during trading on Monday, reaching $1,339.78. 49,900 shares of the company traded hands, compared to its average volume of 140,853. Texas Pacific Land Co. has a 1-year low of $555.71 and a 1-year high of $1,769.14. The stock's 50 day moving average price is $1,350.80 and its two-hundred day moving average price is $1,226.35. The company has a market cap of $30.79 billion, a price-to-earnings ratio of 67.94 and a beta of 1.69.
Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly 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 for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.
Texas Pacific Land Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.
Texas Pacific Land Company Profile
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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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