Walleye Capital LLC Purchases 2,208 Shares of Texas Pacific Land Co. (NYSE:TPL)

Walleye Capital LLC raised its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 862.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,464 shares of the financial services provider's stock after acquiring an additional 2,208 shares during the quarter. Walleye Capital LLC's holdings in Texas Pacific Land were worth $2,725,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TPL. Vanguard Group Inc. increased its position 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 worth $2,599,426,000 after purchasing an additional 260,278 shares during the last quarter. Invesco Ltd. grew 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 buying an additional 200,841 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 buying an additional 159,597 shares during the last quarter. York GP Ltd. bought a new position in Texas Pacific Land during the fourth quarter valued at approximately $101,859,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Texas Pacific Land by 31.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock valued at $198,669,000 after acquiring an additional 43,217 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Up 1.1 %

TPL stock traded up $14.30 during trading hours on Wednesday, hitting $1,324.73. The company's stock had a trading volume of 37,545 shares, compared to its average volume of 133,648. The stock has a 50 day moving average price of $1,310.05 and a two-hundred day moving average price of $1,286.34. Texas Pacific Land Co. has a 12 month low of $555.71 and a 12 month high of $1,769.14. The company has a market capitalization of $30.45 billion, a PE ratio of 67.18 and a beta of 1.44.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's payout ratio is 32.45%.

Insider Buying and Selling

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the completion of the sale, the vice president now directly owns 1,393 shares in the company, valued at $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now directly owns 3,502 shares in the company, 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. In the last ninety days, insiders purchased 86 shares of company stock worth $112,203. 6.50% of the stock is currently owned by insiders.

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.