FORA Capital LLC Acquires New Holdings in Texas Pacific Land Co. (NYSE:TPL)

FORA Capital LLC purchased a new stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 4,299 shares of the financial services provider's stock, valued at approximately $4,755,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings 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 in the last quarter. Invesco Ltd. grew its holdings in Texas Pacific Land by 203.4% during the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after acquiring an additional 200,841 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 acquiring an additional 159,597 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Texas Pacific Land by 943.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock worth $133,883,000 after acquiring an additional 109,455 shares in the last quarter. Finally, York GP Ltd. acquired a new position in Texas Pacific Land during the 4th quarter worth $101,859,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction dated 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 transaction, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. The trade was a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 1,393 shares of the company's stock, valued at $1,771,227.36. This trade represents a 45.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 105 shares of company stock valued at $137,321. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Trading Up 2.8%

TPL stock traded up $37.12 during mid-day trading on Tuesday, hitting $1,378.24. 60,821 shares of the company were exchanged, compared to its average volume of 154,953. The company has a market capitalization of $31.68 billion, a PE ratio of 69.89 and a beta of 1.20. Texas Pacific Land Co. has a twelve month low of $578.56 and a twelve month high of $1,769.14. The firm has a fifty day simple moving average of $1,298.13 and a 200 day simple moving average of $1,315.33.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing analysts' consensus estimates of $5.27 by ($0.03). The business had revenue of $195.98 million during the quarter, compared to analyst estimates 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 firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.02%.

About Texas Pacific Land

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.