City State Bank Purchases Shares of 261 Texas Pacific Land Co. (NYSE:TPL)

City State Bank acquired a new position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 261 shares of the financial services provider's stock, valued at approximately $346,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPL. Vanguard Group Inc. lifted its holdings in Texas Pacific Land by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after purchasing an additional 260,278 shares during the last quarter. Geode Capital Management LLC boosted its stake in Texas Pacific Land by 34.5% during the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after acquiring an additional 159,597 shares during the last quarter. GAMMA Investing LLC boosted its stake 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 worth $479,278,000 after acquiring an additional 361,572 shares during the last quarter. Invesco Ltd. boosted its stake in Texas Pacific Land by 203.4% during the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after acquiring an additional 200,841 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Texas Pacific Land by 21.8% in the fourth quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock valued at $248,584,000 after buying an additional 40,185 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Performance

Shares of TPL opened at $1,117.13 on Friday. The firm's 50 day moving average price is $1,269.74 and its two-hundred day moving average price is $1,311.31. The firm has a market cap of $25.68 billion, a P/E ratio of 56.65 and a beta of 1.12. Texas Pacific Land Co. has a twelve month low of $581.55 and a twelve month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced 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 business 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 disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued 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 currently 32.02%.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, 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 in the company, valued at $4,601,592.98. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have purchased a total of 176 shares of company stock worth $227,923 over the last ninety days. Insiders own 6.50% of the company's stock.

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.

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