EP Wealth Advisors LLC increased its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 38.8% during the fourth quarter, according to its most recent disclosure 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 quarter. EP Wealth Advisors LLC's holdings in Texas Pacific Land were worth $1,562,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Caprock Group LLC raised its holdings in shares of Texas Pacific Land by 3.0% in 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 holdings 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 valued at $368,000 after purchasing an additional 9 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Texas Pacific Land by 11.1% in the 4th quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock valued at $111,000 after purchasing an additional 10 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Texas Pacific Land by 21.1% in 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. boosted its holdings 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 period. Hedge funds and other institutional investors own 59.94% of the company's stock.
Texas Pacific Land Price Performance
Texas Pacific Land stock traded down $2.47 during midday trading on Thursday, hitting $1,403.45. 33,852 shares of the stock were exchanged, compared to its average volume of 155,317. Texas Pacific Land Co. has a 1 year low of $578.56 and a 1 year high of $1,769.14. The firm has a market cap of $32.26 billion, a P/E ratio of 71.17 and a beta of 1.20. The company has a 50 day moving average price of $1,300.16 and a two-hundred day moving average price of $1,316.36.
Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.27 by ($0.03). The company had revenue of $195.98 million during the quarter, compared to the consensus estimate 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 announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's payout ratio is currently 32.02%.
Insider Transactions at Texas Pacific Land
In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the transaction, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. This represents a 45.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Chris Steddum sold 214 shares of the company'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 transaction of $281,193.86. Following the completion of the sale, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at approximately $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 90 days, insiders purchased 104 shares of company stock valued at $135,964. Insiders own 6.50% of the company's stock.
Texas Pacific Land Company Profile
(
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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