Jefferies Financial Group Inc. Acquires 188 Shares of Texas Pacific Land Co. (NYSE:TPL)

Jefferies Financial Group Inc. grew its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 55.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 526 shares of the financial services provider's stock after purchasing an additional 188 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Texas Pacific Land were worth $582,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TPL. Bessemer Group Inc. raised its holdings in Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after buying an additional 13 shares during the last quarter. Assetmark Inc. purchased a new position in shares of Texas Pacific Land in the fourth quarter valued at about $29,000. Atala Financial Inc bought a new position in shares of Texas Pacific Land during the fourth quarter valued at about $31,000. TD Waterhouse Canada Inc. raised its stake in shares of 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 acquiring an additional 15 shares during the last quarter. Finally, CoreCap Advisors LLC raised its stake in shares of 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 acquiring an additional 57 shares during the last quarter. Institutional investors own 59.94% of the company's stock.

Insiders Place Their Bets

In related news, CFO Chris Steddum sold 214 shares of the 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 $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 at this link. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land 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 value of $1,462,248.00. Following the sale, the vice president now directly owns 1,393 shares in the company, valued at approximately $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 ninety days, insiders purchased 132 shares of company stock worth $175,331. 6.50% of the stock is currently owned by corporate insiders.

Texas Pacific Land Stock Down 0.8%

Shares of Texas Pacific Land stock traded down $11.58 during trading on Wednesday, reaching $1,359.13. 68,375 shares of the stock were exchanged, compared to its average volume of 156,475. The firm has a market cap of $31.24 billion, a price-to-earnings ratio of 68.95 and a beta of 1.20. Texas Pacific Land Co. has a 1 year low of $578.56 and a 1 year high of $1,769.14. The stock's fifty day moving average is $1,307.61 and its 200 day moving average is $1,325.11.

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 earnings per share for the quarter, missing the consensus estimate of $5.27 by ($0.03). Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The business had revenue of $195.98 million during the quarter, compared to analysts' expectations of $211.00 million.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 yield of 0.47%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's payout ratio is currently 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.