408 Shares in Texas Pacific Land Co. (NYSE:TPL) Acquired by Crestline Management LP

Crestline Management LP purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 408 shares of the financial services provider's stock, valued at approximately $451,000.

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

Insider Buying and Selling

In other news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the transaction, the vice president now directly owns 1,393 shares of the company's stock, valued at $1,771,227.36. The trade was a 45.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the transaction, the chief financial officer now directly owns 3,502 shares in the company, valued at $4,601,592.98. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 113 shares of company stock worth $148,385. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Stock Performance

Texas Pacific Land stock traded up $0.90 during midday trading on Friday, reaching $1,418.00. 33,162 shares of the company were exchanged, compared to its average volume of 155,557. The company has a market capitalization of $32.60 billion, a price-to-earnings ratio of 71.91 and a beta of 1.20. The firm's 50-day simple moving average is $1,301.83 and its 200-day simple moving average is $1,318.60. Texas Pacific Land Co. has a 1 year low of $578.56 and a 1 year high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $195.98 million for the quarter, compared to analysts' expectations of $211.00 million. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's dividend payout ratio is presently 32.02%.

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.