Capstone Investment Advisors LLC Invests $428,000 in Texas Pacific Land Co. (NYSE:TPL)

Capstone Investment Advisors LLC bought a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 387 shares of the financial services provider's stock, valued at approximately $428,000.

Other hedge funds have also bought and sold shares of the company. Caprock Group LLC increased its holdings 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 worth $302,000 after acquiring an additional 8 shares during the period. Huntington National Bank raised its position in shares of Texas Pacific Land by 2.8% in the fourth quarter. Huntington National Bank now owns 333 shares of the financial services provider's stock worth $368,000 after buying an additional 9 shares in the last quarter. Signaturefd LLC boosted its stake in Texas Pacific Land by 11.1% during the fourth quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock valued at $111,000 after buying an additional 10 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock worth $76,000 after buying an additional 12 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Texas Pacific Land by 108.3% in the 4th 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 last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Trading Up 1.2 %

Shares of NYSE TPL traded up $15.46 during midday trading on Friday, hitting $1,302.95. 83,041 shares of the company's stock were exchanged, compared to its average volume of 155,210. The business's fifty day moving average price is $1,298.70 and its two-hundred day moving average price is $1,310.51. The company has a market cap of $29.95 billion, a price-to-earnings ratio of 66.07 and a beta of 1.20. Texas Pacific Land Co. has a 12-month low of $578.56 and a 12-month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $195.98 million during the quarter, compared to the consensus estimate of $211.00 million.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $1.60 per share. The ex-dividend date is Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.49%. Texas Pacific Land's dividend payout ratio is 32.45%.

Insiders Place Their Bets

In other news, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was 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 approximately $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at approximately $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. Insiders bought a total of 100 shares of company stock valued at $130,700 over the last quarter. 6.50% of the stock is 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.