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

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

A number of other hedge funds also recently added to or reduced their stakes in the business. Bessemer Group Inc. increased its holdings in Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after purchasing an additional 13 shares during the period. Assetmark Inc. purchased a new stake in Texas Pacific Land during the 4th quarter worth about $29,000. Atala Financial Inc purchased a new stake in Texas Pacific Land during the 4th quarter worth about $31,000. TD Waterhouse Canada Inc. grew its holdings in 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 worth $53,000 after acquiring an additional 15 shares in the last quarter. Finally, CoreCap Advisors LLC grew its holdings in Texas Pacific Land by 5,700.0% during the 4th quarter. CoreCap Advisors LLC now owns 58 shares of the financial services provider's stock worth $64,000 after acquiring an additional 57 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

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 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction dated 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 directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 122 shares of company stock valued at $161,200. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Stock Down 1.0%

NYSE TPL opened at $1,416.90 on Tuesday. Texas Pacific Land Co. has a 52 week low of $578.56 and a 52 week high of $1,769.14. The stock has a market capitalization of $32.57 billion, a PE ratio of 71.85 and a beta of 1.20. The firm has a 50 day moving average of $1,305.22 and a two-hundred day moving average of $1,324.78.

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). The business had revenue of $195.98 million for the quarter, compared to analysts' expectations 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued 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 0.45%. Texas Pacific Land's payout ratio is currently 32.02%.

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.

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