Harel Insurance Investments & Financial Services Ltd. Takes Position in Texas Pacific Land Co. (NYSE:TPL)

Harel Insurance Investments & Financial Services Ltd. purchased a new position in Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 60 shares of the financial services provider’s stock, valued at approximately $66,000.

A number of other large investors also recently bought and sold shares of TPL. Sei Investments Co. boosted its holdings in Texas Pacific Land by 14.2% in the second quarter. Sei Investments Co. now owns 901 shares of the financial services provider’s stock worth $662,000 after acquiring an additional 112 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of Texas Pacific Land in the 2nd quarter worth about $3,303,000. ProShare Advisors LLC bought a new position in Texas Pacific Land in the 2nd quarter worth about $645,000. Public Sector Pension Investment Board grew its position in Texas Pacific Land by 1.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 2,697 shares of the financial services provider’s stock valued at $1,980,000 after purchasing an additional 51 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Texas Pacific Land by 21.6% during the 2nd quarter. Bank of Montreal Can now owns 6,419 shares of the financial services provider’s stock valued at $4,871,000 after purchasing an additional 1,141 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the sale, the chief accounting officer now directly owns 584 shares in the company, valued at $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders acquired 78 shares of company stock valued at $105,810. 6.50% of the stock is owned by insiders.

Texas Pacific Land Stock Down 3.0 %

NYSE:TPL opened at $1,363.14 on Friday. The stock has a market cap of $31.33 billion, a price-to-earnings ratio of 69.94 and a beta of 1.68. The company’s 50 day moving average price is $1,327.04 and its 200-day moving average price is $1,077.42. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $4.63 EPS for the quarter. The business had revenue of $173.56 million for the quarter. Texas Pacific Land had a return on equity of 40.57% and a net margin of 65.34%. During the same quarter in the prior year, the business posted $4.58 earnings per share.

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.47%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date was Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.84%.

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.