WealthTrust Asset Management LLC purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 195 shares of the financial services provider's stock, valued at approximately $216,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new stake in shares of Texas Pacific Land in the 4th quarter worth $29,000. Atala Financial Inc acquired a new stake in Texas Pacific Land in the fourth quarter valued at about $31,000. Quest Partners LLC purchased a new stake in Texas Pacific Land in the 3rd quarter valued at approximately $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Texas Pacific Land during the 4th quarter worth approximately $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock valued at $76,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 59.94% of the company's stock.
Insider Buying and Selling at Texas Pacific Land
In related news, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was 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 $1,771,227.36. This represents a 45.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction on 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 directly 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. Over the last three months, insiders purchased 49 shares of company stock valued at $64,548. Corporate insiders own 6.50% of the company's stock.
Texas Pacific Land Stock Up 1.1 %
Shares of Texas Pacific Land stock traded up $14.92 during trading on Monday, reaching $1,335.99. The company's stock had a trading volume of 81,503 shares, compared to its average volume of 139,131. The business has a 50 day moving average price of $1,345.70 and a 200-day moving average price of $1,212.14. Texas Pacific Land Co. has a 12-month low of $553.33 and a 12-month high of $1,769.14. The company has a market capitalization of $30.71 billion, a P/E ratio of 67.75 and a beta of 1.69.
Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 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 business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $1.60 per share. The ex-dividend date is Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.48%. Texas Pacific Land's payout ratio is currently 32.45%.
Texas Pacific Land Company 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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