GAMMA Investing LLC Has $479.28 Million Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

GAMMA Investing LLC increased its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 241,048.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 361,722 shares of the financial services provider's stock after acquiring an additional 361,572 shares during the period. GAMMA Investing LLC owned about 1.57% of Texas Pacific Land worth $479,278,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sage Capital Advisors llc raised its holdings in shares of Texas Pacific Land by 100.0% during the first quarter. Sage Capital Advisors llc now owns 400 shares of the financial services provider's stock worth $530,000 after acquiring an additional 200 shares during the period. Versant Capital Management Inc increased its stake in Texas Pacific Land by 213.3% in the 1st quarter. Versant Capital Management Inc now owns 47 shares of the financial services provider's stock valued at $62,000 after buying an additional 32 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Texas Pacific Land by 175.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 33 shares of the financial services provider's stock valued at $44,000 after buying an additional 21 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Texas Pacific Land by 2.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,172 shares of the financial services provider's stock valued at $13,462,000 after acquiring an additional 301 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Texas Pacific Land in the 4th quarter valued at about $6,920,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Trading Up 1.8%

Shares of TPL traded up $19.96 during midday trading on Tuesday, reaching $1,130.10. The stock had a trading volume of 152,286 shares, compared to its average volume of 159,515. The firm 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 Co. has a one year low of $578.56 and a one year high of $1,769.14. The firm has a market cap of $25.98 billion, a PE ratio of 57.31 and a beta of 1.20.

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 firm had revenue of $195.98 million during the quarter, compared to the consensus estimate 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.57%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 32.02%.

Insiders Place Their Bets

In other news, CFO Chris Steddum sold 214 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the transaction, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. The trade was a 5.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the business's stock in a transaction that occurred 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 of the company's stock, 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 acquired 172 shares of company stock worth $224,696 in the last quarter. 6.50% of the stock is currently owned by corporate insiders.

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.