NBC Securities Inc. Takes $920,000 Position in Texas Pacific Land Co. (NYSE:TPL)

NBC Securities Inc. acquired a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 695 shares of the financial services provider's stock, valued at approximately $920,000.

Several other institutional investors have also recently made changes to their positions in the stock. Bessemer Group Inc. increased its stake in Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 13 shares during the last quarter. Assetmark Inc. bought a new stake in shares of Texas Pacific Land during the fourth quarter valued at approximately $29,000. Atala Financial Inc bought a new stake in shares of Texas Pacific Land during the fourth quarter valued at approximately $31,000. MassMutual Private Wealth & Trust FSB grew its position 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 worth $44,000 after purchasing an additional 21 shares during the period. Finally, TD Waterhouse Canada Inc. grew its position in shares of Texas Pacific Land by 45.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 15 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Trading Down 0.8%

Shares of TPL traded down $8.85 during trading hours on Thursday, reaching $1,093.68. 137,309 shares of the stock traded hands, compared to its average volume of 160,251. The company has a market cap of $25.14 billion, a P/E ratio of 55.46 and a beta of 1.20. Texas Pacific Land Co. has a 52-week low of $581.55 and a 52-week high of $1,769.14. The company's 50-day moving average price is $1,279.08 and its two-hundred day moving average price is $1,315.48.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released 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). Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The firm had revenue of $195.98 million for the quarter, compared to analysts' expectations of $211.00 million.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $1.60 per share. The ex-dividend date is Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.59%. Texas Pacific Land's payout ratio is 32.02%.

Insider Activity at Texas Pacific Land

In other news, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders bought 179 shares of company stock valued at $231,874 over the last 90 days. 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.