Woodline Partners LP Invests $1.25 Million in Texas Pacific Land Co. (NYSE:TPL)

Woodline Partners LP purchased a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,131 shares of the financial services provider's stock, valued at approximately $1,251,000.

A number of other hedge funds have also recently made changes to their positions in TPL. Westwood Holdings Group Inc. purchased a new stake in Texas Pacific Land in the 4th quarter valued at about $239,000. Squarepoint Ops LLC bought a new stake in shares of Texas Pacific Land during the fourth quarter valued at approximately $1,078,000. Toronto Dominion Bank boosted its holdings in shares of Texas Pacific Land by 173.6% in the fourth quarter. Toronto Dominion Bank now owns 6,364 shares of the financial services provider's stock valued at $7,038,000 after purchasing an additional 4,038 shares during the period. Scientech Research LLC purchased a new position in Texas Pacific Land during the 4th quarter worth $2,076,000. Finally, Siemens Fonds Invest GmbH bought a new stake in Texas Pacific Land during the 4th quarter valued at $1,924,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Price Performance

Shares of TPL stock traded down $59.77 during mid-day trading on Friday, hitting $1,138.56. The stock had a trading volume of 47,650 shares, compared to its average volume of 158,150. Texas Pacific Land Co. has a 12-month low of $578.56 and a 12-month high of $1,769.14. The firm's 50-day moving average is $1,297.15 and its two-hundred day moving average is $1,322.61. The firm has a market capitalization of $26.17 billion, a P/E ratio of 57.85 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 EPS for the quarter, missing analysts' consensus estimates of $5.27 by ($0.03). Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The business had revenue of $195.98 million for the quarter, compared to analysts' expectations of $211.00 million.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 32.02%.

Insiders Place Their Bets

In other Texas Pacific Land 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 owns 1,393 shares in the company, valued at $1,771,227.36. The trade was a 45.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Chris Steddum sold 214 shares of the 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 sale, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased a total of 155 shares of company stock worth $205,391 over the last 90 days. Company insiders own 6.50% of the company's stock.

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.