Mufg Securities Americas Inc. bought a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 278 shares of the financial services provider's stock, valued at approximately $307,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TPL. Bessemer Group Inc. lifted its position in shares of 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 acquiring an additional 13 shares during the period. Assetmark Inc. acquired a new position in Texas Pacific Land in the fourth quarter valued at $29,000. Atala Financial Inc acquired a new stake in Texas Pacific Land in the 4th quarter worth about $31,000. TD Waterhouse Canada Inc. grew its holdings in Texas Pacific Land by 45.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock valued at $53,000 after buying an additional 15 shares during the period. Finally, CoreCap Advisors LLC increased its stake in shares of Texas Pacific Land by 5,700.0% during the 4th 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. Hedge funds and other institutional investors own 59.94% of the company's stock.
Insider Activity at Texas Pacific Land
In related news, CFO Chris Steddum sold 214 shares of the 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 sale, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $1,462,248.00. Following the transaction, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. This represents a 45.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 131 shares of company stock worth $173,895. 6.50% of the stock is owned by insiders.
Texas Pacific Land Stock Down 3.4%
Shares of TPL stock traded down $46.20 during trading hours on Thursday, hitting $1,309.46. 39,504 shares of the company were exchanged, compared to its average volume of 156,605. The firm has a fifty day moving average of $1,308.35 and a 200 day moving average of $1,325.33. Texas Pacific Land Co. has a 1 year low of $578.56 and a 1 year high of $1,769.14. The firm has a market cap of $30.10 billion, a PE ratio of 66.31 and a beta of 1.20.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing analysts' consensus estimates of $5.27 by ($0.03). The company had revenue of $195.98 million for the quarter, compared to analysts' expectations 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 company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is currently 32.02%.
Texas Pacific Land Company Profile
(
Free Report)
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.
Further Reading
Before you consider Texas Pacific Land, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Texas Pacific Land wasn't on the list.
While Texas Pacific Land currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
