Squarepoint Ops LLC Purchases Shares of 975 Texas Pacific Land Co. (NYSE:TPL)

Squarepoint Ops LLC purchased a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 975 shares of the financial services provider's stock, valued at approximately $1,078,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TPL. Bessemer Group Inc. lifted 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 buying an additional 13 shares during the period. Assetmark Inc. bought a new position in Texas Pacific Land during the 4th quarter worth about $29,000. Atala Financial Inc purchased a new position in Texas Pacific Land during the 4th quarter valued at about $31,000. TD Waterhouse Canada Inc. raised its holdings in shares of Texas Pacific Land by 45.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 15 shares in the last quarter. Finally, CoreCap Advisors LLC lifted its position in shares of Texas Pacific Land by 5,700.0% in 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 period. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Trading Down 2.0%

Shares of TPL traded down $22.20 during midday trading on Wednesday, hitting $1,104.17. 173,468 shares of the company's stock traded hands, compared to its average volume of 160,342. The firm's fifty day moving average is $1,279.08 and its 200-day moving average is $1,315.48. Texas Pacific Land Co. has a 1 year low of $581.55 and a 1 year high of $1,769.14. The stock has a market capitalization of $25.38 billion, a price-to-earnings ratio of 55.99 and a beta of 1.20.

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 (EPS) for the quarter, missing the consensus estimate of $5.27 by ($0.03). The company had revenue of $195.98 million for the quarter, compared to analyst estimates 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 company also recently announced 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. The ex-dividend date is Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.58%. Texas Pacific Land's dividend payout ratio (DPR) is 32.02%.

Insiders Place Their Bets

In other Texas Pacific Land news, 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 transaction, the vice president now directly owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. This trade represents a 45.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Chris Steddum sold 214 shares of the company's 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 sale, the chief financial officer now directly owns 3,502 shares in the company, valued at $4,601,592.98. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders bought 169 shares of company stock valued at $220,669. 6.50% of the stock is owned by company insiders.

Texas Pacific Land 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.