Mackenzie Financial Corp Has $2.01 Million Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Mackenzie Financial Corp lifted its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 65.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,815 shares of the financial services provider's stock after buying an additional 717 shares during the quarter. Mackenzie Financial Corp's holdings in Texas Pacific Land were worth $2,007,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TPL. Bessemer Group Inc. raised its holdings in shares of Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 13 shares in the last quarter. Assetmark Inc. acquired a new position in shares of Texas Pacific Land during the 4th quarter valued at about $29,000. Atala Financial Inc acquired a new position in Texas Pacific Land in the 4th quarter valued at $31,000. TD Waterhouse Canada Inc. increased its stake in shares of Texas Pacific Land by 45.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock worth $53,000 after purchasing an additional 15 shares during the period. Finally, CoreCap Advisors LLC lifted its position in shares of Texas Pacific Land by 5,700.0% during the 4th quarter. CoreCap Advisors LLC now owns 58 shares of the financial services provider's stock worth $64,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Trading Down 2.0%

TPL traded down $22.20 during midday trading on Wednesday, reaching $1,104.17. The company's stock had a trading volume of 173,468 shares, compared to its average volume of 160,343. The company has a fifty day simple moving average of $1,279.08 and a 200 day simple moving average of $1,315.48. The stock has a market cap of $25.38 billion, a P/E ratio of 55.99 and a beta of 1.20. 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.27 by ($0.03). Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The company had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land's payout ratio is presently 32.02%.

Insider Activity

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Chris Steddum sold 214 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 169 shares of company stock worth $220,669. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Company Profile

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.