Aptus Capital Advisors LLC Purchases New Position in Texas Pacific Land Co. (NYSE:TPL)

Aptus Capital Advisors LLC acquired a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 862 shares of the financial services provider's stock, valued at approximately $953,000.

Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. increased its stake in shares of Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after buying an additional 13 shares during the period. Assetmark Inc. bought a new stake in Texas Pacific Land in the 4th quarter worth $29,000. Atala Financial Inc bought a new position in shares of Texas Pacific Land during the fourth quarter valued at about $31,000. TD Waterhouse Canada Inc. boosted its holdings in shares of Texas Pacific Land by 45.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock worth $53,000 after purchasing an additional 15 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Texas Pacific Land during the 4th quarter valued at about $66,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Activity at Texas Pacific Land

In related news, VP Micheal W. Dobbs sold 1,150 shares of the 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 completion of the transaction, the vice president now directly owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. This represents a 45.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Chris Steddum sold 214 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 3,502 shares in the company, 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. Over the last three months, insiders have purchased 99 shares of company stock worth $129,320. Corporate insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Performance

Shares of Texas Pacific Land stock traded up $30.29 during trading on Monday, hitting $1,331.69. The company's stock had a trading volume of 23,121 shares, compared to its average volume of 155,024. The company has a market capitalization of $30.61 billion, a PE ratio of 67.49 and a beta of 1.20. The company has a fifty day simple moving average of $1,298.70 and a two-hundred day simple moving average of $1,313.63. Texas Pacific Land Co. has a 52 week low of $578.56 and a 52 week high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.27 by ($0.03). The business had revenue of $195.98 million for the quarter, compared to the consensus estimate 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 firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $1.60 per share. The ex-dividend date is Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. Texas Pacific Land's dividend payout ratio is currently 32.02%.

Texas Pacific Land Profile

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.