Rafferty Asset Management LLC raised its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 26.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,694 shares of the financial services provider's stock after acquiring an additional 2,020 shares during the period. Rafferty Asset Management LLC's holdings in Texas Pacific Land were worth $10,721,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPL. Caprock Group LLC grew its holdings in shares of Texas Pacific Land by 3.0% during the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider's stock worth $302,000 after purchasing an additional 8 shares during the last quarter. Huntington National Bank grew its holdings in shares of Texas Pacific Land by 2.8% during the fourth quarter. Huntington National Bank now owns 333 shares of the financial services provider's stock worth $368,000 after purchasing an additional 9 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Texas Pacific Land by 11.1% during the fourth quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock worth $111,000 after purchasing an additional 10 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Texas Pacific Land by 21.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock valued at $76,000 after acquiring an additional 12 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Texas Pacific Land by 108.3% in the fourth 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 last quarter. Institutional investors own 59.94% of the company's stock.
Insider Buying and Selling at Texas Pacific Land
In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the business's stock in a transaction that occurred on 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 directly owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. The trade was a 45.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 132 shares of company stock valued at $175,331. 6.50% of the stock is currently owned by company insiders.
Texas Pacific Land Trading Down 3.4%
TPL stock traded down $48.20 during trading on Tuesday, hitting $1,371.96. The company had a trading volume of 132,162 shares, compared to its average volume of 156,810. The business has a 50-day moving average of $1,305.22 and a 200-day moving average of $1,324.78. Texas Pacific Land Co. has a one year low of $578.56 and a one year high of $1,769.14. The stock has a market cap of $31.54 billion, a PE ratio of 69.57 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 EPS for the quarter, missing the consensus estimate of $5.27 by ($0.03). Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The company had revenue of $195.98 million during the quarter, compared to the consensus estimate of $211.00 million.
Texas Pacific Land Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.02%.
Texas Pacific Land 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.
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