JT Stratford LLC bought 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. The fund bought 875 shares of the financial services provider's stock, valued at approximately $968,000.
A number of other institutional investors and hedge funds also recently modified their holdings of TPL. Caprock Group LLC grew its stake in Texas Pacific Land by 3.0% during the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider's stock valued at $302,000 after acquiring an additional 8 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Texas Pacific Land by 2.8% during the fourth quarter. Huntington National Bank now owns 333 shares of the financial services provider's stock worth $368,000 after purchasing an additional 9 shares during the period. Signaturefd LLC grew its position in Texas Pacific Land by 11.1% during the fourth quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock valued at $111,000 after purchasing an additional 10 shares in the last quarter. Bessemer Group Inc. increased its stake in Texas Pacific Land by 108.3% in the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after buying an additional 13 shares during the period. Finally, Quantinno Capital Management LP lifted its position in Texas Pacific Land by 0.5% in the 4th quarter. Quantinno Capital Management LP now owns 2,990 shares of the financial services provider's stock worth $3,308,000 after buying an additional 14 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Texas Pacific Land
In related 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 transaction of $1,462,248.00. Following the sale, the vice president now directly owns 1,393 shares of the company's stock, valued at $1,771,227.36. This trade represents a 45.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 148 shares of company stock worth $196,526. 6.50% of the stock is owned by insiders.
Texas Pacific Land Stock Performance
Shares of NYSE:TPL traded down $8.42 during midday trading on Wednesday, hitting $1,235.12. 36,410 shares of the stock were exchanged, compared to its average volume of 157,568. The company has a market capitalization of $28.39 billion, a PE ratio of 62.76 and a beta of 1.20. Texas Pacific Land Co. has a 52-week low of $578.56 and a 52-week high of $1,769.14. The business's fifty day simple moving average is $1,301.17 and its two-hundred day simple moving average is $1,324.70.
Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing analysts' consensus estimates of $5.27 by ($0.03). The company 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 company also recently declared 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. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's dividend payout ratio is 32.02%.
Texas Pacific Land Company 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.
Further Reading
Before you consider Texas Pacific Land, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Texas Pacific Land wasn't on the list.
While Texas Pacific Land currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
