Gotham Asset Management LLC Raises Position in Texas Pacific Land Co. (NYSE:TPL)

Gotham Asset Management LLC raised its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 212.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,716 shares of the financial services provider's stock after purchasing an additional 3,889 shares during the quarter. Gotham Asset Management LLC's holdings in Texas Pacific Land were worth $6,322,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bessemer Group Inc. increased its position in shares of Texas Pacific Land by 108.3% during the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 13 shares during the last quarter. Assetmark Inc. bought a new position in Texas Pacific Land during the fourth quarter valued at $29,000. Atala Financial Inc bought a new position in Texas Pacific Land during the fourth quarter valued at $31,000. TD Waterhouse Canada Inc. grew its holdings in Texas Pacific Land by 45.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 15 shares during the period. Finally, CoreCap Advisors LLC grew its holdings in Texas Pacific Land by 5,700.0% during the fourth quarter. CoreCap Advisors LLC now owns 58 shares of the financial services provider's stock valued at $64,000 after purchasing an additional 57 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Texas Pacific Land

In other news, VP Micheal W. Dobbs sold 1,150 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 113 shares of company stock valued at $148,385. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Performance

NYSE TPL traded up $12.02 on Friday, hitting $1,429.12. 108,942 shares of the stock traded hands, compared to its average volume of 156,214. The business's fifty day moving average is $1,303.87 and its two-hundred day moving average is $1,320.81. Texas Pacific Land Co. has a 12 month low of $578.56 and a 12 month high of $1,769.14. The firm has a market capitalization of $32.85 billion, a price-to-earnings ratio of 72.47 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced 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). Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The firm had revenue of $195.98 million for the quarter, compared to the consensus estimate of $211.00 million.

Texas Pacific Land Dividend Announcement

The company 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. This represents a $6.40 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 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.