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

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

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Caprock Group LLC raised its position in Texas Pacific Land by 3.0% during the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider's stock valued at $302,000 after purchasing an additional 8 shares in the last quarter. Huntington National Bank lifted its position in Texas Pacific Land by 2.8% during the fourth quarter. Huntington National Bank now owns 333 shares of the financial services provider's stock valued at $368,000 after purchasing an additional 9 shares during the period. Signaturefd LLC grew its stake in shares of Texas Pacific Land by 11.1% during the 4th quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock worth $111,000 after purchasing an additional 10 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Texas Pacific Land by 21.1% during 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 acquiring an additional 12 shares during the period. Finally, Bessemer Group Inc. grew its holdings in Texas Pacific Land by 108.3% in the fourth 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. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Price Performance

Shares of NYSE:TPL traded up $32.11 during midday trading on Tuesday, hitting $1,373.23. The company had a trading volume of 28,237 shares, compared to its average volume of 154,823. Texas Pacific Land Co. has a twelve month low of $578.56 and a twelve month high of $1,769.14. The business's 50-day simple moving average is $1,298.13 and its 200-day simple moving average is $1,315.33. The stock has a market cap of $31.57 billion, a price-to-earnings ratio of 69.64 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, May 7th. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $1.60 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. Texas Pacific Land's dividend payout ratio is currently 32.02%.

Insider Activity

In related news, VP Micheal W. Dobbs sold 1,150 shares of the business'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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the business'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 approximately $4,601,592.98. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders purchased 102 shares of company stock worth $133,216 in the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

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.