BNP Paribas Financial Markets Acquires New Stake in Texas Pacific Land Co. (NYSE:TPL)

BNP Paribas Financial Markets bought a new position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 34,019 shares of the financial services provider's stock, valued at approximately $37,624,000. BNP Paribas Financial Markets owned about 0.15% of Texas Pacific Land as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TPL. Vanguard Group Inc. grew its stake 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 valued at $2,599,426,000 after acquiring an additional 260,278 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Texas Pacific Land by 34.5% in the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock valued at $693,023,000 after purchasing an additional 159,597 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Texas Pacific Land by 203.4% in the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock valued at $331,321,000 after purchasing an additional 200,841 shares during the last quarter. Northern Trust Corp lifted its position in Texas Pacific Land by 21.8% during the fourth quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock worth $248,584,000 after buying an additional 40,185 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Texas Pacific Land by 31.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock worth $198,669,000 after buying an additional 43,217 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Up 0.4 %

Shares of TPL opened at $1,340.09 on Thursday. Texas Pacific Land Co. has a 52-week low of $562.04 and a 52-week high of $1,769.14. The stock has a fifty day simple moving average of $1,301.29 and a two-hundred day simple moving average of $1,307.57. The company has a market capitalization of $30.80 billion, a PE ratio of 67.96 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.27 by ($0.03). Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The firm had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million.

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 issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's dividend payout ratio is presently 32.45%.

Insider Buying and Selling

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Chris Steddum sold 214 shares of the business's 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 transaction of $281,193.86. Following the completion of 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 acquired 98 shares of company stock worth $128,084. Company insiders own 6.50% of the company's stock.

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.

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