Tower Research Capital LLC TRC Buys 483 Shares of Texas Pacific Land Co. (NYSE:TPL)

Tower Research Capital LLC TRC raised its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 127.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 861 shares of the financial services provider's stock after purchasing an additional 483 shares during the quarter. Tower Research Capital LLC TRC's holdings in Texas Pacific Land were worth $952,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of TPL. Barclays PLC boosted its stake in Texas Pacific Land by 6.1% in the 3rd quarter. Barclays PLC now owns 19,892 shares of the financial services provider's stock valued at $17,600,000 after buying an additional 1,152 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Texas Pacific Land by 143.8% during the third quarter. Tidal Investments LLC now owns 5,319 shares of the financial services provider's stock valued at $4,706,000 after acquiring an additional 3,137 shares during the period. Synovus Financial Corp acquired a new stake in shares of Texas Pacific Land in the 3rd quarter valued at $208,000. Franklin Resources Inc. boosted its stake in shares of Texas Pacific Land by 74.0% in the 3rd quarter. Franklin Resources Inc. now owns 14,367 shares of the financial services provider's stock valued at $12,711,000 after purchasing an additional 6,109 shares in the last quarter. Finally, First Financial Bank Trust Division bought a new stake in shares of Texas Pacific Land in the 4th quarter worth about $217,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Trading Up 1.3 %

TPL stock traded up $17.89 during trading on Monday, hitting $1,352.52. 60,383 shares of the stock traded hands, compared to its average volume of 153,988. The stock has a market cap of $31.09 billion, a price-to-earnings ratio of 68.59 and a beta of 1.44. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14. The company has a 50 day simple moving average of $1,305.89 and a 200 day simple moving average of $1,297.85.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The company 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 firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's payout ratio is presently 32.45%.

Insider Buying and Selling

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 transaction of $281,193.86. Following the completion of the sale, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. The trade was a 5.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction on Thursday, March 13th. The shares were 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 owns 1,393 shares of the company's stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 90 shares of company stock worth $117,505 in the last 90 days. Corporate insiders own 6.50% of the company's stock.

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.