Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,172 shares of the financial services provider's stock, valued at approximately $5,720,000.
A number of other hedge funds also recently added to or reduced their stakes in TPL. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 260,278 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Texas Pacific Land by 34.5% in the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock valued at $693,023,000 after purchasing an additional 159,597 shares during the last quarter. 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 purchasing an additional 200,841 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Texas Pacific Land by 21.8% during the 4th quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock valued at $248,584,000 after acquiring an additional 40,185 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Texas Pacific Land by 31.7% during 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 acquiring an additional 43,217 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Texas Pacific Land
In other news, CFO Chris Steddum sold 214 shares of the company's 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 completion of the sale, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. This represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the 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 sale, the vice president now directly owns 1,393 shares of the company's stock, valued at approximately $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 acquired a total of 172 shares of company stock valued at $224,696 in the last quarter. Insiders own 6.50% of the company's stock.
Texas Pacific Land Trading Up 1.9%
TPL stock traded up $21.08 during trading on Tuesday, reaching $1,131.22. The stock had a trading volume of 111,393 shares, compared to its average volume of 159,370. Texas Pacific Land Co. has a 1-year low of $578.56 and a 1-year high of $1,769.14. The company has a market capitalization of $26.00 billion, a P/E ratio of 57.34 and a beta of 1.20. The firm has a fifty day moving average price of $1,287.21 and a 200 day moving average price of $1,318.26.
Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results 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 company 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 Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land's dividend payout ratio is presently 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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