BI Asset Management Fondsmaeglerselskab A S Makes New $544,000 Investment in Texas Pacific Land Co. (NYSE:TPL)

BI Asset Management Fondsmaeglerselskab A S bought a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 492 shares of the financial services provider's stock, valued at approximately $544,000.

Several other hedge funds have also recently added to or reduced their stakes in TPL. Bessemer Group Inc. grew its stake in shares of Texas Pacific Land by 108.3% in the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 13 shares during the period. Assetmark Inc. bought a new stake in Texas Pacific Land in the fourth quarter valued at $29,000. Atala Financial Inc acquired a new position in Texas Pacific Land during the fourth quarter worth $31,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Texas Pacific Land during the fourth quarter valued at $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock valued at $76,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Trading Down 3.2 %

Shares of Texas Pacific Land stock traded down $42.66 during mid-day trading on Wednesday, reaching $1,287.63. 120,030 shares of the stock were exchanged, compared to its average volume of 154,032. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The company has a market cap of $29.60 billion, a price-to-earnings ratio of 65.30 and a beta of 1.44. The firm has a 50-day simple moving average of $1,302.43 and a 200 day simple moving average of $1,297.99.

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

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.50%. Texas Pacific Land's payout ratio is 32.45%.

Insider Activity

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the stock in a transaction dated 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 owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction that occurred on 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 owns 1,393 shares in the company, 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 have bought 92 shares of company stock valued at $120,263 over the last 90 days. 6.50% of the stock is owned by company insiders.

About Texas Pacific Land

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.