Prudential Financial Inc. grew its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 449.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,313 shares of the financial services provider's stock after acquiring an additional 17,433 shares during the quarter. Prudential Financial Inc. owned 0.09% of Texas Pacific Land worth $23,571,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Quest Partners LLC bought a new position in Texas Pacific Land in the third quarter worth $50,000. Citigroup Inc. raised its stake in shares of Texas Pacific Land by 18.0% in the 3rd quarter. Citigroup Inc. now owns 24,318 shares of the financial services provider's stock valued at $21,515,000 after buying an additional 3,717 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Texas Pacific Land by 24.5% during the 3rd quarter. Cerity Partners LLC now owns 10,370 shares of the financial services provider's stock worth $9,175,000 after acquiring an additional 2,044 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Texas Pacific Land by 14.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,547 shares of the financial services provider's stock valued at $1,369,000 after acquiring an additional 200 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Texas Pacific Land in the third quarter valued at about $304,000. Institutional investors and hedge funds own 59.94% of the company's stock.
Texas Pacific Land Trading Up 0.6 %
NYSE:TPL traded up $7.22 during mid-day trading on Monday, hitting $1,312.93. The company's stock had a trading volume of 16,441 shares, compared to its average volume of 148,008. The stock has a fifty day moving average of $1,348.93 and a 200-day moving average of $1,245.70. The company has a market capitalization of $30.18 billion, a price-to-earnings ratio of 66.63 and a beta of 1.69. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14.
Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The business 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 company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 0.49%. Texas Pacific Land's dividend payout ratio is presently 32.45%.
Insider Transactions at Texas Pacific Land
In other news, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the transaction, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the business's 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 completion of the transaction, the vice president now directly owns 1,393 shares in the company, valued at $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have bought 67 shares of company stock valued at $89,873. 6.50% of the stock is owned by insiders.
Texas Pacific Land Company Profile
(
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.
Read More
Before you consider Texas Pacific Land, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Texas Pacific Land wasn't on the list.
While Texas Pacific Land currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
