Rhumbline Advisers lifted its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 10.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,642 shares of the financial services provider's stock after purchasing an additional 3,969 shares during the period. Rhumbline Advisers owned about 0.19% of Texas Pacific Land worth $56,500,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. increased its holdings in shares of Texas Pacific Land by 108.3% in the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after acquiring an additional 13 shares during the period. Assetmark Inc. acquired a new stake in shares of Texas Pacific Land during the fourth quarter worth $29,000. Atala Financial Inc purchased a new position in shares of Texas Pacific Land in the fourth quarter worth approximately $31,000. MassMutual Private Wealth & Trust FSB lifted 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 worth $44,000 after acquiring an additional 21 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Texas Pacific Land by 213.3% during the first quarter. Versant Capital Management Inc now owns 47 shares of the financial services provider's stock worth $62,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.
Insiders Place Their Bets
In related news, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction on Friday, March 14th. The stock was 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 owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm'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 sale, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. This represents a 45.22% decrease in their position. The disclosure for this sale can be found here. Insiders have purchased 169 shares of company stock valued at $220,669 in the last 90 days. 6.50% of the stock is currently owned by insiders.
Texas Pacific Land Stock Performance
Shares of Texas Pacific Land stock traded down $22.20 on Wednesday, reaching $1,104.17. The stock had a trading volume of 173,468 shares, compared to its average volume of 159,921. The stock has a market cap of $25.38 billion, a P/E ratio of 55.99 and a beta of 1.20. The business's 50-day moving average price is $1,283.15 and its two-hundred day moving average price is $1,316.95. Texas Pacific Land Co. has a fifty-two week low of $578.56 and a fifty-two week high of $1,769.14.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.27 by ($0.03). The firm had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.
Texas Pacific Land Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors 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 yield of 0.58%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land's payout ratio is 32.02%.
Texas Pacific Land 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.
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