TT Capital Management LLC Buys Shares of 390 Texas Pacific Land Co. (NYSE:TPL)

TT Capital Management LLC bought a new position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 390 shares of the financial services provider's stock, valued at approximately $431,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. raised its position in shares of Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after purchasing an additional 13 shares during the last quarter. Assetmark Inc. purchased a new stake in shares of Texas Pacific Land during the fourth quarter worth approximately $29,000. Atala Financial Inc purchased a new position in Texas Pacific Land in the 4th quarter valued at $31,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Texas Pacific Land during the 4th quarter worth $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Texas Pacific Land by 21.1% in 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. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Trading Up 1.4 %

TPL stock traded up $17.93 during mid-day trading on Friday, reaching $1,295.51. The company's stock had a trading volume of 103,730 shares, compared to its average volume of 152,865. The stock has a market cap of $29.78 billion, a PE ratio of 65.70 and a beta of 1.44. The company's 50 day moving average is $1,314.16 and its two-hundred day moving average is $1,277.05. 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 declared 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. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.49%. Texas Pacific Land's dividend payout ratio is currently 32.45%.

Insider Activity

In other news, CFO Chris Steddum sold 214 shares of the stock in a transaction dated 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 owns 3,502 shares in the company, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 1,393 shares of the company's stock, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 84 shares of company stock valued at $109,748. 6.50% of the stock is currently owned by company insiders.

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.