Vanguard Group Inc. raised its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 12.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,350,380 shares of the financial services provider's stock after buying an additional 260,278 shares during the quarter. Vanguard Group Inc. owned about 10.23% of Texas Pacific Land worth $2,599,426,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Quest Partners LLC bought a new stake in Texas Pacific Land during the third quarter worth about $50,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Texas Pacific Land by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider's stock valued at $120,694,000 after purchasing an additional 1,984 shares during the last quarter. Citigroup Inc. boosted its position 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 worth $21,515,000 after purchasing an additional 3,717 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Texas Pacific Land by 24.5% in the 3rd quarter. Cerity Partners LLC now owns 10,370 shares of the financial services provider's stock worth $9,175,000 after buying an additional 2,044 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in 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 buying an additional 200 shares in the last quarter. Institutional investors own 59.94% of the company's stock.
Texas Pacific Land Trading Down 1.8 %
Texas Pacific Land stock traded down $24.05 during mid-day trading on Friday, hitting $1,307.86. The company had a trading volume of 103,050 shares, compared to its average volume of 148,528. Texas Pacific Land Co. has a 12 month low of $555.71 and a 12 month high of $1,769.14. The stock's 50 day moving average price is $1,348.93 and its two-hundred day moving average price is $1,245.70. The company has a market capitalization of $30.06 billion, a PE ratio of 66.32 and a beta of 1.69.
Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly 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 for 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.49%. Texas Pacific Land's payout ratio is currently 32.45%.
Insider Buying and Selling
In related news, VP Micheal W. Dobbs sold 1,150 shares of the firm'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 sale, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. This trade represents a 45.22 % 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, CFO Chris Steddum sold 214 shares of the business's stock in a transaction 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 sale, the chief financial officer now owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 68 shares of company stock worth $91,008 in the last three months. 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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