UMB Bank n.a. raised its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 236.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,684 shares of the financial services provider's stock after purchasing an additional 6,803 shares during the quarter. UMB Bank n.a.'s holdings in Texas Pacific Land were worth $12,831,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in TPL. Vanguard Group Inc. lifted its holdings in shares of Texas Pacific Land by 12.5% during the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock worth $2,599,426,000 after purchasing an additional 260,278 shares during the period. Geode Capital Management LLC raised its position in Texas Pacific Land by 34.5% during the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after buying an additional 159,597 shares during the last quarter. GAMMA Investing LLC lifted its stake in Texas Pacific Land by 241,048.0% during the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock valued at $479,278,000 after acquiring an additional 361,572 shares during the period. Invesco Ltd. boosted its holdings in shares of Texas Pacific Land by 203.4% in the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock valued at $331,321,000 after acquiring an additional 200,841 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Texas Pacific Land by 21.8% in the fourth quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock worth $248,584,000 after acquiring an additional 40,185 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. The trade was a 45.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were 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 of the company's stock, valued at $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 90 days, insiders have acquired 183 shares of company stock worth $234,945. 6.50% of the stock is owned by corporate insiders.
Texas Pacific Land Stock Performance
Shares of Texas Pacific Land stock traded down $7.74 during trading on Monday, hitting $1,105.52. 135,751 shares of the company's stock were exchanged, compared to its average volume of 161,289. The stock has a market capitalization of $25.41 billion, a price-to-earnings ratio of 56.06 and a beta of 1.12. The business has a 50-day simple moving average of $1,269.74 and a 200-day simple moving average of $1,308.91. Texas Pacific Land Co. has a 52-week low of $614.56 and a 52-week high of $1,769.14.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing the consensus estimate 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 company had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million.
Texas Pacific Land Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land's payout ratio is currently 32.02%.
About Texas Pacific Land
(
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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