WealthTrust Asset Management LLC acquired a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 195 shares of the financial services provider's stock, valued at approximately $216,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TPL. Envestnet Portfolio Solutions Inc. purchased a new position in Texas Pacific Land in the fourth quarter valued at about $424,000. Atala Financial Inc acquired a new position in shares of Texas Pacific Land in the 4th quarter valued at approximately $31,000. Erste Asset Management GmbH boosted its stake in shares of Texas Pacific Land by 50.0% during the 4th quarter. Erste Asset Management GmbH now owns 570 shares of the financial services provider's stock valued at $653,000 after buying an additional 190 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Texas Pacific Land during the fourth quarter worth approximately $452,000. Finally, Avantax Advisory Services Inc. increased its stake in shares of Texas Pacific Land by 3.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 1,258 shares of the financial services provider's stock worth $1,391,000 after buying an additional 39 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.
Texas Pacific Land Trading Up 0.2 %
NYSE TPL traded up $2.85 during trading hours on Tuesday, reaching $1,342.44. 80,490 shares of the company traded hands, compared to its average volume of 139,217. The stock has a market capitalization of $30.86 billion, a PE ratio of 68.08 and a beta of 1.69. 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 50 day moving average of $1,345.70 and a two-hundred day moving average of $1,212.14.
Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The business 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 Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's dividend payout ratio is presently 32.45%.
Insider Buying and Selling at Texas Pacific Land
In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land 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 completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Chris Steddum sold 214 shares of the company'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 transaction, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired a total of 51 shares of company stock worth $67,311 over the last 90 days. Insiders own 6.50% of the company's stock.
About Texas Pacific Land
(
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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