Texas Pacific Land Co. (NYSE:TPL) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC increased its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 347.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,670 shares of the financial services provider's stock after acquiring an additional 2,849 shares during the period. ProShare Advisors LLC's holdings in Texas Pacific Land were worth $4,059,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantinno Capital Management LP boosted its position in Texas Pacific Land by 0.5% during 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. purchased a new stake in Texas Pacific Land during the fourth quarter worth $307,000. Nissay Asset Management Corp Japan ADV boosted its position 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 worth $2,806,000 after purchasing an additional 47 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Texas Pacific Land by 5.9% during the fourth quarter. Nuveen Asset Management LLC now owns 53,148 shares of the financial services provider's stock worth $58,780,000 after purchasing an additional 2,962 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its position in Texas Pacific Land by 164.3% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 1,673 shares of the financial services provider's stock worth $1,850,000 after purchasing an additional 1,040 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Trading Down 0.3%

Shares of NYSE:TPL traded down $3.48 on Friday, hitting $1,275.42. The company had a trading volume of 84,591 shares, compared to its average volume of 158,186. Texas Pacific Land Co. has a 52-week low of $578.56 and a 52-week high of $1,769.14. The business has a 50 day moving average of $1,305.90 and a 200 day moving average of $1,325.96. The company has a market cap of $29.32 billion, a PE ratio of 64.68 and a beta of 1.20.

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

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $1.60 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.50%. Texas Pacific Land's dividend payout ratio is currently 32.02%.

Insider Activity

In related news, CFO Chris Steddum sold 214 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the sale, the vice president now owns 1,393 shares of the company's stock, valued at $1,771,227.36. This represents a 45.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 141 shares of company stock worth $187,715 over the last three months. 6.50% of the stock is currently owned by corporate insiders.

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.