EP Wealth Advisors LLC grew its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 38.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,412 shares of the financial services provider's stock after acquiring an additional 395 shares during the period. EP Wealth Advisors LLC's holdings in Texas Pacific Land were worth $1,562,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. increased its holdings in shares of 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 in the last quarter. Assetmark Inc. acquired a new position in Texas Pacific Land during the 4th quarter valued at about $29,000. Atala Financial Inc acquired a new position in Texas Pacific Land during the 4th quarter valued at about $31,000. TD Waterhouse Canada Inc. lifted its position in 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 valued at $53,000 after purchasing an additional 15 shares during the period. Finally, CoreCap Advisors LLC grew its holdings in Texas Pacific Land by 5,700.0% during the 4th quarter. CoreCap Advisors LLC now owns 58 shares of the financial services provider's stock worth $64,000 after acquiring an additional 57 shares during the period. Institutional investors own 59.94% of the company's stock.
Texas Pacific Land Price Performance
Shares of Texas Pacific Land stock traded up $37.57 on Monday, hitting $1,338.97. 98,397 shares of the company's stock traded hands, compared to its average volume of 155,317. The firm's 50-day moving average price is $1,298.13 and its two-hundred day moving average price is $1,315.33. The stock has a market capitalization of $30.78 billion, a PE ratio of 67.90 and a beta of 1.20. Texas Pacific Land Co. has a one year low of $578.56 and a one year high of $1,769.14.
Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing the consensus estimate of $5.27 by ($0.03). The business had revenue of $195.98 million for the quarter, compared to the consensus estimate of $211.00 million. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.
Texas Pacific Land Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's payout ratio is 32.02%.
Insider Buying and Selling at Texas Pacific Land
In related news, CFO Chris Steddum sold 214 shares of the company's stock in a transaction on 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 sale, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. This represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $1,771,227.36. This represents a 45.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 102 shares of company stock worth $133,216. Insiders own 6.50% of the company's stock.
About Texas Pacific Land
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Free Report)
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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