Treasurer of the State of North Carolina increased its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 11.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,151 shares of the financial services provider's stock after purchasing an additional 940 shares during the quarter. Treasurer of the State of North Carolina's holdings in Texas Pacific Land were worth $10,121,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in TPL. FMR LLC grew its holdings in Texas Pacific Land by 41.5% in the third quarter. FMR LLC now owns 2,525 shares of the financial services provider's stock worth $2,234,000 after purchasing an additional 740 shares during the period. Janus Henderson Group PLC increased its position in Texas Pacific Land by 7.7% during the 3rd quarter. Janus Henderson Group PLC now owns 1,496 shares of the financial services provider's stock valued at $1,323,000 after buying an additional 107 shares in the last quarter. MML Investors Services LLC boosted its holdings in Texas Pacific Land by 175.6% in the third quarter. MML Investors Services LLC now owns 1,527 shares of the financial services provider's stock worth $1,351,000 after acquiring an additional 973 shares in the last quarter. Barclays PLC grew its stake in shares of Texas Pacific Land by 6.1% in the third quarter. Barclays PLC now owns 19,892 shares of the financial services provider's stock worth $17,600,000 after acquiring an additional 1,152 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in shares of Texas Pacific Land by 6.2% during the third quarter. M&T Bank Corp now owns 922 shares of the financial services provider's stock valued at $815,000 after acquiring an additional 54 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.
Texas Pacific Land Price Performance
Texas Pacific Land stock traded up $17.93 during mid-day trading on Friday, reaching $1,295.51. The stock had a trading volume of 103,730 shares, compared to its average volume of 152,865. The company has a market capitalization of $29.78 billion, a price-to-earnings ratio of 65.70 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 moving average price of $1,314.16 and a two-hundred day moving average price of $1,277.05.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The firm had revenue of $185.78 million for the quarter.
Texas Pacific Land Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's dividend payout ratio is currently 32.45%.
Insider Activity at Texas Pacific Land
In related news, CFO Chris Steddum sold 214 shares of the firm's 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 sale, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the 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 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. Insiders have acquired 84 shares of company stock valued at $109,748 over the last ninety days. Insiders own 6.50% of the company's stock.
Texas Pacific Land 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.
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