Gunderson Capital Management Inc. Buys Shares of 6,426 Texas Pacific Land Co. (NYSE:TPL)

Gunderson Capital Management Inc. purchased a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,426 shares of the financial services provider's stock, valued at approximately $8,514,000. Texas Pacific Land comprises about 5.5% of Gunderson Capital Management Inc.'s investment portfolio, making the stock its 11th largest position.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Texas Pacific Land by 241,048.0% during the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock valued at $479,278,000 after buying an additional 361,572 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Texas Pacific Land by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after acquiring an additional 260,278 shares during the period. Invesco Ltd. raised its stake in shares of Texas Pacific Land by 203.4% during the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock valued at $331,321,000 after acquiring an additional 200,841 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Texas Pacific Land by 34.5% during the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock valued at $693,023,000 after acquiring an additional 159,597 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Texas Pacific Land by 943.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock worth $133,883,000 after purchasing an additional 109,455 shares during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction on 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 completion of the sale, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. This represents a 45.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 172 shares of company stock valued at $224,696. Corporate insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Performance

Shares of NYSE TPL traded up $19.96 during trading hours on Tuesday, hitting $1,130.10. The company's stock had a trading volume of 152,328 shares, compared to its average volume of 159,515. Texas Pacific Land Co. has a 12 month low of $578.56 and a 12 month high of $1,769.14. The stock has a market cap of $25.98 billion, a price-to-earnings ratio of 57.31 and a beta of 1.20. The business has a 50-day simple moving average of $1,287.21 and a 200-day simple moving average of $1,318.26.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (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 analysts' expectations 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 Announces Dividend

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. The ex-dividend date is Monday, June 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.57%. Texas Pacific Land's dividend payout ratio is 32.02%.

About Texas Pacific Land

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.