Caxton Associates LP bought a new position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 456 shares of the financial services provider's stock, valued at approximately $504,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TPL. Vanguard Group Inc. grew its holdings in Texas Pacific Land by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock worth $2,599,426,000 after acquiring an additional 260,278 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Texas Pacific Land by 203.4% in the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock valued at $331,321,000 after buying an additional 200,841 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Texas Pacific Land by 34.5% in the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock valued at $693,023,000 after buying an additional 159,597 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Texas Pacific Land by 943.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock valued at $133,883,000 after buying an additional 109,455 shares in the last quarter. Finally, York GP Ltd. bought a new stake in shares of Texas Pacific Land in the 4th quarter valued at about $101,859,000. 59.94% of the stock is currently owned by institutional investors.
Insider Activity at Texas Pacific Land
In related news, CFO Chris Steddum sold 214 shares of the 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm'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 transaction of $1,462,248.00. Following the transaction, the vice president now directly owns 1,393 shares of the company's stock, valued at $1,771,227.36. This represents a 45.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased 99 shares of company stock valued at $129,320 in the last three months. 6.50% of the stock is owned by insiders.
Texas Pacific Land Trading Up 1.6%
Shares of NYSE:TPL traded up $21.32 during trading on Monday, reaching $1,322.72. The stock had a trading volume of 26,106 shares, compared to its average volume of 155,038. The firm's 50-day simple moving average is $1,298.70 and its 200 day simple moving average is $1,313.63. Texas Pacific Land Co. has a one year low of $578.56 and a one year high of $1,769.14. The company has a market capitalization of $30.41 billion, a P/E ratio of 67.11 and a beta of 1.20.
Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.27 by ($0.03). The business had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.
Texas Pacific Land Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's payout ratio is currently 32.02%.
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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