209 Shares in Texas Pacific Land Co. (NYSE:TPL) Purchased by Syon Capital LLC

Syon Capital LLC purchased a new stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 209 shares of the financial services provider's stock, valued at approximately $231,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in Texas Pacific Land by 19.9% in the fourth quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock worth $44,979,000 after acquiring an additional 6,747 shares during the period. Everence Capital Management Inc. bought a new stake in Texas Pacific Land during the 4th quarter valued at $641,000. Miracle Mile Advisors LLC acquired a new stake in Texas Pacific Land in the fourth quarter worth about $8,545,000. Brave Asset Management Inc. grew its stake in shares of Texas Pacific Land by 87.1% during the fourth quarter. Brave Asset Management Inc. now owns 537 shares of the financial services provider's stock worth $594,000 after acquiring an additional 250 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Texas Pacific Land by 12.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,502 shares of the financial services provider's stock valued at $18,251,000 after purchasing an additional 1,891 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Texas Pacific Land

In other news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land 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 sale, the vice president now directly owns 1,393 shares of the company's stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $281,193.86. Following the completion of the sale, the chief financial officer now owns 3,502 shares of the company's stock, valued at $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. Insiders acquired a total of 94 shares of company stock worth $122,851 in the last 90 days. Corporate insiders own 6.50% of the company's stock.

Texas Pacific Land Price Performance

TPL traded up $28.03 on Friday, reaching $1,334.16. 41,560 shares of the stock were exchanged, compared to its average volume of 153,800. The company's 50-day moving average price is $1,302.75 and its 200 day moving average price is $1,299.68. The firm has a market capitalization of $30.67 billion, a PE ratio of 67.98 and a beta of 1.44. Texas Pacific Land Co. has a fifty-two week low of $558.00 and a fifty-two week high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 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 for the quarter.

Texas Pacific Land Announces Dividend

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

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.