Texas Pacific Land Co. (NYSE:TPL) Shares Purchased by Northern Trust Corp

Northern Trust Corp lifted its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 21.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 224,768 shares of the financial services provider's stock after acquiring an additional 40,185 shares during the quarter. Northern Trust Corp owned approximately 0.98% of Texas Pacific Land worth $248,584,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TPL. Vanguard Group Inc. grew its holdings 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 worth $2,599,426,000 after purchasing an additional 260,278 shares during the last quarter. Invesco Ltd. grew its holdings in Texas Pacific Land by 203.4% during the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after acquiring an additional 200,841 shares during the period. Geode Capital Management LLC grew its stake in shares of 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 during the period. Price T Rowe Associates Inc. MD raised its position in shares of Texas Pacific Land by 943.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock worth $133,883,000 after acquiring an additional 109,455 shares during the period. Finally, York GP Ltd. purchased a new position in Texas Pacific Land during the fourth quarter worth approximately $101,859,000. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Up 0.5 %

Shares of NYSE TPL traded up $6.84 during trading on Tuesday, hitting $1,328.45. The company had a trading volume of 27,211 shares, compared to its average volume of 154,053. The stock has a fifty day simple moving average of $1,303.45 and a two-hundred day simple moving average of $1,307.10. Texas Pacific Land Co. has a fifty-two week low of $562.04 and a fifty-two week high of $1,769.14. The firm has a market capitalization of $30.53 billion, a price-to-earnings ratio of 67.54 and a beta of 1.44.

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 (EPS) 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 business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $1.60 dividend. The ex-dividend date 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 (DPR) is presently 32.45%.

Insider Buying and Selling

In related news, CFO Chris Steddum sold 214 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land 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 sale, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased 96 shares of company stock valued at $125,522 in the last three months. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land 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.