AQR Capital Management LLC grew its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,119 shares of the financial services provider's stock after acquiring an additional 3,432 shares during the quarter. AQR Capital Management LLC owned about 0.33% of Texas Pacific Land worth $84,185,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Texas Pacific Land by 19.9% during the fourth quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock valued at $44,979,000 after purchasing an additional 6,747 shares during the period. Everence Capital Management Inc. purchased a new stake in Texas Pacific Land in the 4th quarter valued at about $641,000. Miracle Mile Advisors LLC purchased a new stake in Texas Pacific Land in the 4th quarter valued at about $8,545,000. Brave Asset Management Inc. grew its stake in Texas Pacific Land by 87.1% in the 4th quarter. Brave Asset Management Inc. now owns 537 shares of the financial services provider's stock worth $594,000 after acquiring an additional 250 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Texas Pacific Land by 12.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,502 shares of the financial services provider's stock worth $18,251,000 after acquiring an additional 1,891 shares during the period. Institutional investors own 59.94% of the company's stock.
Texas Pacific Land Stock Down 3.2 %
TPL opened at $1,287.63 on Thursday. The stock's fifty day moving average is $1,302.43 and its two-hundred day moving average is $1,297.99. The company has a market capitalization of $29.60 billion, a P/E ratio of 65.30 and a beta of 1.44. Texas Pacific Land Co. has a 52 week low of $555.71 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, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The firm had revenue of $185.78 million for the quarter.
Texas Pacific Land Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $1.60 per share. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.50%. Texas Pacific Land's dividend payout ratio is presently 32.45%.
Insider Activity at Texas Pacific Land
In other news, 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 in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction 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 of the company's stock, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired a total of 92 shares of company stock valued at $120,263 over the last ninety days. 6.50% of the stock is owned by company insiders.
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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