Pacer Advisors Inc. Increases Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Pacer Advisors Inc. grew its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 68.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,422 shares of the financial services provider's stock after purchasing an additional 7,109 shares during the period. Pacer Advisors Inc. owned approximately 0.08% of Texas Pacific Land worth $19,268,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TPL. Capital Performance Advisors LLP acquired a new position in Texas Pacific Land during the third quarter worth $25,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Texas Pacific Land during the 3rd quarter worth $44,000. Quest Partners LLC purchased a new position in shares of Texas Pacific Land in the 3rd quarter valued at about $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings 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 buying an additional 12 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the completion of the transaction, the chief accounting officer now owns 584 shares of the company's stock, valued at $810,784.72. This represents a 26.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders bought 73 shares of company stock valued at $100,462. 6.50% of the stock is owned by insiders.

Texas Pacific Land Price Performance

Texas Pacific Land stock traded down $2.38 during mid-day trading on Wednesday, reaching $1,272.85. The company had a trading volume of 83,902 shares, compared to its average volume of 144,327. The stock's 50-day simple moving average is $1,321.19 and its 200-day simple moving average is $1,086.15. The company has a market capitalization of $29.25 billion, a P/E ratio of 65.31 and a beta of 1.68. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter. Texas Pacific Land had a return on equity of 40.57% and a net margin of 65.34%. The firm had revenue of $173.56 million during the quarter. During the same period in the prior year, the firm posted $4.58 earnings per share.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, December 2nd. This is a boost from Texas Pacific Land's previous quarterly dividend of $1.17. Texas Pacific Land's dividend payout ratio (DPR) is currently 32.84%.

About Texas Pacific Land

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.