Royal Bank of Canada Has $19.27 Million Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Royal Bank of Canada raised its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 26.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,427 shares of the financial services provider's stock after buying an additional 3,649 shares during the period. Royal Bank of Canada owned approximately 0.08% of Texas Pacific Land worth $19,274,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Rafferty Asset Management LLC increased its position in shares of Texas Pacific Land by 26.3% in the 4th quarter. Rafferty Asset Management LLC now owns 9,694 shares of the financial services provider's stock worth $10,721,000 after purchasing an additional 2,020 shares during the last quarter. ProShare Advisors LLC grew its stake in Texas Pacific Land by 347.0% in the fourth quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider's stock worth $4,059,000 after purchasing an additional 2,849 shares in the last quarter. Quantinno Capital Management LP grew its stake in Texas Pacific Land by 0.5% in the fourth quarter. Quantinno Capital Management LP now owns 2,990 shares of the financial services provider's stock worth $3,308,000 after purchasing an additional 14 shares in the last quarter. Mufg Securities Americas Inc. bought a new stake in Texas Pacific Land in the fourth quarter valued at about $307,000. Finally, Nissay Asset Management Corp Japan ADV raised its stake in Texas Pacific Land by 2.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 2,450 shares of the financial services provider's stock valued at $2,806,000 after buying an additional 47 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 value of $1,462,248.00. Following the completion of the sale, the vice president now owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. The trade was a 45.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Chris Steddum sold 214 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of the sale, the chief financial officer now owns 3,502 shares of the company's stock, valued at $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. In the last ninety days, insiders acquired 155 shares of company stock worth $205,391. 6.50% of the stock is currently owned by company insiders.

Texas Pacific Land Trading Down 4.0%

TPL traded down $48.18 on Friday, hitting $1,150.16. 37,638 shares of the company's stock were exchanged, compared to its average volume of 158,125. The stock has a fifty day moving average of $1,297.15 and a two-hundred day moving average of $1,322.61. Texas Pacific Land Co. has a twelve month low of $578.56 and a twelve month high of $1,769.14. The firm has a market cap of $26.44 billion, a PE ratio of 58.43 and a beta of 1.20.

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 earnings per share (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 business had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.56%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's dividend payout ratio is currently 32.02%.

About Texas Pacific Land

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.