UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 3,097 Shares of Texas Pacific Land Co. (NYSE:TPL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 73,933 shares of the financial services provider's stock after buying an additional 3,097 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.32% of Texas Pacific Land worth $81,767,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Texas Pacific Land by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock worth $2,599,426,000 after acquiring an additional 260,278 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Texas Pacific Land by 34.5% during the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after purchasing an additional 159,597 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Texas Pacific Land by 203.4% during the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after purchasing an additional 200,841 shares during the last quarter. 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 valued at $248,584,000 after buying an additional 40,185 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Texas Pacific Land by 31.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock valued at $198,669,000 after buying an additional 43,217 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Down 1.7%

NYSE TPL traded down $20.29 on Thursday, hitting $1,199.25. The company's stock had a trading volume of 158,666 shares, compared to its average volume of 158,230. The company's 50-day moving average is $1,300.08 and its 200 day moving average is $1,323.98. The firm has a market cap of $27.57 billion, a PE ratio of 60.81 and a beta of 1.20. Texas Pacific Land Co. has a 1-year low of $578.56 and a 1-year high of $1,769.14.

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 for the quarter, missing the consensus estimate of $5.27 by ($0.03). The business had revenue of $195.98 million during the quarter, compared to the consensus estimate 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 declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $1.60 dividend. The ex-dividend date is Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.53%. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.02%.

Insider Activity

In related news, CFO Chris Steddum sold 214 shares of the company's stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 3,502 shares in the company, valued at $4,601,592.98. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm'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 transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders purchased 158 shares of company stock valued at $209,433. Company insiders own 6.50% of the company's stock.

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.