Czech National Bank increased its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,327 shares of the financial services provider's stock after purchasing an additional 242 shares during the period. Czech National Bank's holdings in Texas Pacific Land were worth $5,733,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Texas Pacific Land by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock worth $2,599,426,000 after purchasing an additional 260,278 shares in the last quarter. Geode Capital Management LLC lifted its stake in Texas Pacific Land by 34.5% in the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after purchasing an additional 159,597 shares in the last quarter. GAMMA Investing LLC lifted its stake in Texas Pacific Land by 241,048.0% in the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock worth $479,278,000 after purchasing an additional 361,572 shares in the last quarter. Invesco Ltd. lifted its stake in Texas Pacific Land by 203.4% in the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after purchasing an additional 200,841 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Texas Pacific Land by 21.8% in the 4th quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock worth $248,584,000 after purchasing an additional 40,185 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.
Insiders Place Their Bets
In related news, VP Micheal W. Dobbs sold 1,150 shares of the business'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 transaction, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. The trade was a 45.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $281,193.86. Following the transaction, the chief financial officer now 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 position. The disclosure for this sale can be found here. Insiders acquired a total of 179 shares of company stock worth $231,874 over the last 90 days. Corporate insiders own 6.50% of the company's stock.
Texas Pacific Land Price Performance
Shares of TPL stock traded down $8.85 during trading on Thursday, hitting $1,093.68. 137,309 shares of the stock traded hands, compared to its average volume of 160,251. The firm has a market capitalization of $25.14 billion, a P/E ratio of 55.46 and a beta of 1.20. The firm's fifty day moving average price is $1,279.08 and its 200-day moving average price is $1,315.48. Texas Pacific Land Co. has a 52-week low of $581.55 and a 52-week high of $1,769.14.
Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.27 by ($0.03). The firm had revenue of $195.98 million during 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 company 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 $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's payout ratio is 32.02%.
Texas Pacific Land 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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