Hsbc Holdings PLC Grows Holdings in Texas Pacific Land Co. (NYSE:TPL)

Hsbc Holdings PLC boosted its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 168.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,308 shares of the financial services provider's stock after buying an additional 15,863 shares during the period. Hsbc Holdings PLC owned 0.11% of Texas Pacific Land worth $28,035,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Texas Pacific Land by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after purchasing an additional 260,278 shares during the period. Invesco Ltd. raised its stake in shares of Texas Pacific Land by 203.4% in the fourth 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 in the last quarter. Geode Capital Management LLC grew its stake 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 purchasing an additional 159,597 shares in the last quarter. York GP Ltd. acquired a new stake in Texas Pacific Land in the 4th quarter valued at about $101,859,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Texas Pacific Land by 31.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock worth $198,669,000 after buying an additional 43,217 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Up 0.4 %

Texas Pacific Land stock traded up $5.27 during trading on Thursday, reaching $1,294.14. The stock had a trading volume of 26,469 shares, compared to its average volume of 153,533. The business has a 50 day moving average price of $1,302.43 and a 200 day moving average price of $1,297.99. The stock has a market cap of $29.75 billion, a PE ratio of 65.62 and a beta of 1.44. Texas Pacific Land Co. has a 52-week low of $555.71 and a 52-week high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The company had revenue of $185.78 million for the quarter.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's payout ratio is currently 32.45%.

Insider Transactions at Texas Pacific Land

In related news, CFO Chris Steddum sold 214 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. The trade was a 5.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction 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 completion of the transaction, the vice president now owns 1,393 shares in the company, valued at approximately $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. Over the last ninety days, insiders have acquired 92 shares of company stock worth $120,263. Insiders own 6.50% of the company's stock.

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.