Texas Pacific Land Co. (NYSE:TPL) Shares Acquired by Investment Management Corp of Ontario

Investment Management Corp of Ontario lifted its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 51.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 973 shares of the financial services provider's stock after buying an additional 332 shares during the period. Investment Management Corp of Ontario's holdings in Texas Pacific Land were worth $1,076,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TPL. Barclays PLC boosted its stake in shares of Texas Pacific Land by 6.1% in the third quarter. Barclays PLC now owns 19,892 shares of the financial services provider's stock worth $17,600,000 after buying an additional 1,152 shares during the last quarter. Czech National Bank acquired a new stake in shares of Texas Pacific Land during the 4th quarter worth approximately $4,518,000. Wedmont Private Capital lifted its stake in shares of Texas Pacific Land by 16.8% in the 4th quarter. Wedmont Private Capital now owns 243 shares of the financial services provider's stock valued at $269,000 after purchasing an additional 35 shares during the period. Miracle Mile Advisors LLC acquired a new position in shares of Texas Pacific Land in the 4th quarter valued at $8,545,000. Finally, Crestmont Private Wealth LLC purchased a new stake in Texas Pacific Land during the fourth quarter worth $206,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Buying and Selling

In other news, CFO Chris Steddum sold 214 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of the sale, the chief financial officer now owns 3,502 shares of the company's stock, valued at $4,601,592.98. This represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the business's stock in a transaction dated 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 in the company, valued at $1,771,227.36. The trade was 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 have bought 113 shares of company stock worth $148,385. Insiders own 6.50% of the company's stock.

Texas Pacific Land Trading Up 0.8%

Shares of Texas Pacific Land stock traded up $12.02 during trading hours on Friday, reaching $1,429.12. The stock had a trading volume of 108,942 shares, compared to its average volume of 155,839. The stock's 50 day moving average is $1,301.83 and its 200 day moving average is $1,318.60. 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 market capitalization of $32.85 billion, a PE ratio of 72.47 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.27 by ($0.03). The business had revenue of $195.98 million for the quarter, compared to analysts' expectations of $211.00 million. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.45%. 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

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.