Texas Pacific Land Co. (NYSE:TPL) Shares Purchased by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC lifted its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,554 shares of the financial services provider's stock after buying an additional 415 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Texas Pacific Land were worth $5,036,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TPL. Bessemer Group Inc. raised its position in Texas Pacific Land by 108.3% during the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after acquiring an additional 13 shares during the period. Assetmark Inc. acquired a new position in shares of Texas Pacific Land during the 4th quarter worth about $29,000. Atala Financial Inc acquired a new position in shares of Texas Pacific Land during the 4th quarter worth about $31,000. TD Waterhouse Canada Inc. lifted its stake in Texas Pacific Land by 45.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock valued at $53,000 after buying an additional 15 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Texas Pacific Land in the 4th quarter worth about $66,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the firm's 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders acquired 94 shares of company stock worth $122,851. Insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Up 3.3 %

Shares of NYSE TPL traded up $43.22 during midday trading on Friday, hitting $1,349.35. The stock had a trading volume of 101,895 shares, compared to its average volume of 154,446. The stock has a 50 day simple moving average of $1,303.96 and a 200-day simple moving average of $1,301.84. The company has a market capitalization of $31.01 billion, a PE ratio of 68.43 and a beta of 1.44. Texas Pacific Land Co. has a 1 year low of $559.31 and a 1 year high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The company had revenue of $185.78 million for the quarter.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors 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 annualized dividend and a yield of 0.47%. Texas Pacific Land's dividend payout ratio is presently 32.45%.

Texas Pacific Land Company 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.