NewEdge Advisors LLC lifted its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 58.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 525 shares of the financial services provider's stock after acquiring an additional 194 shares during the period. NewEdge Advisors LLC's holdings in Texas Pacific Land were worth $580,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Texas Pacific Land by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after purchasing an additional 260,278 shares during the last quarter. Invesco Ltd. lifted its holdings in Texas Pacific Land by 203.4% in the fourth 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 grew its position in Texas Pacific Land by 34.5% in the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after acquiring an additional 159,597 shares during the period. York GP Ltd. purchased a new stake in Texas Pacific Land in the fourth quarter valued at $101,859,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of 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 valued at $198,669,000 after purchasing an additional 43,217 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.
Insider Activity at Texas Pacific Land
In related news, CFO Chris Steddum sold 214 shares of Texas Pacific Land 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the company'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 sale, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 92 shares of company stock worth $120,263. 6.50% of the stock is currently owned by company insiders.
Texas Pacific Land Price Performance
Shares of NYSE:TPL traded up $32.55 during midday trading on Thursday, reaching $1,321.42. 53,507 shares of the company's stock were exchanged, compared to its average volume of 153,639. The stock has a market cap of $30.37 billion, a price-to-earnings ratio of 66.96 and a beta of 1.44. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The firm's 50 day simple moving average is $1,302.43 and its two-hundred day simple moving average is $1,297.99.
Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The business had revenue of $185.78 million for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.
Texas Pacific Land Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.48%. Texas Pacific Land's dividend payout ratio is currently 32.45%.
Texas Pacific Land Company Profile
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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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