Norinchukin Bank The Takes Position in Texas Pacific Land Co. (NYSE:TPL)

Norinchukin Bank The acquired a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 660 shares of the financial services provider's stock, valued at approximately $730,000.

Several other institutional investors have also recently modified their holdings of TPL. Vanguard Group Inc. boosted its position in Texas Pacific Land by 12.5% during 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 buying an additional 260,278 shares during the period. Invesco Ltd. lifted its stake in shares of Texas Pacific Land by 203.4% in the 4th 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 during the last quarter. Geode Capital Management LLC boosted its holdings 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 valued at $693,023,000 after acquiring an additional 159,597 shares during the period. York GP Ltd. bought a new position in Texas Pacific Land during the 4th quarter worth approximately $101,859,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Texas Pacific Land by 31.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock worth $198,669,000 after purchasing an additional 43,217 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Trading Down 0.9 %

Shares of NYSE:TPL traded down $11.43 during trading on Monday, reaching $1,323.21. 13,657 shares of the company traded hands, compared to its average volume of 153,806. Texas Pacific Land Co. has a 52-week low of $555.71 and a 52-week high of $1,769.14. The firm has a market capitalization of $30.41 billion, a price-to-earnings ratio of 66.92 and a beta of 1.44. The business's fifty day moving average is $1,306.98 and its 200-day moving average is $1,295.81.

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

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. Texas Pacific Land's dividend payout ratio is presently 32.45%.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction 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 completion of the transaction, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was 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 directly owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired 87 shares of company stock valued at $113,534 in the last 90 days. 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.