MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 60.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,395 shares of the financial services provider's stock after acquiring an additional 527 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Texas Pacific Land were worth $1,543,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Texas Pacific Land by 19.9% in the fourth quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock valued at $44,979,000 after acquiring an additional 6,747 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Texas Pacific Land by 12.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,502 shares of the financial services provider's stock valued at $18,251,000 after acquiring an additional 1,891 shares during the last quarter. Fisher Asset Management LLC purchased a new position in Texas Pacific Land in the fourth quarter valued at about $380,000. Atria Wealth Solutions Inc. lifted its stake in shares of Texas Pacific Land by 64.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 1,069 shares of the financial services provider's stock valued at $1,182,000 after buying an additional 420 shares in the last quarter. Finally, New York Life Investment Management LLC purchased a new stake in shares of Texas Pacific Land during the 4th quarter valued at approximately $2,796,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.
Texas Pacific Land Trading Down 1.5%
Shares of TPL stock traded down $18.42 during trading on Thursday, reaching $1,201.13. 24,457 shares of the company's stock traded hands, compared to its average volume of 126,325. The company has a market capitalization of $27.61 billion, a P/E ratio of 60.91 and a beta of 1.20. The firm's 50-day moving average is $1,300.08 and its 200 day moving average is $1,323.98. Texas Pacific Land Co. has a 1 year low of $578.56 and a 1 year high of $1,769.14.
Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings results 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 for 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 firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land's payout ratio is currently 32.02%.
Insider Activity at Texas Pacific Land
In related news, CFO Chris Steddum sold 214 shares of the company'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 transaction of $281,193.86. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $1,771,227.36. This trade represents a 45.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 158 shares of company stock worth $209,433. 6.50% of the stock is owned by corporate insiders.
About Texas Pacific Land
(
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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