Mizuho Securities USA LLC Buys Shares of 1,786 Texas Pacific Land Co. (NYSE:TPL)

Mizuho Securities USA LLC purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,786 shares of the financial services provider’s stock, valued at approximately $1,975,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Hilltop Holdings Inc. boosted its position in shares of Texas Pacific Land by 290.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock worth $1,606,000 after purchasing an additional 1,350 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Texas Pacific Land by 63.5% during the third quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock worth $2,634,000 after buying an additional 1,156 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Texas Pacific Land by 5.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock worth $7,864,000 after buying an additional 431 shares during the period. Everence Capital Management Inc. bought a new stake in shares of Texas Pacific Land in the 4th quarter valued at about $641,000. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of Texas Pacific Land in the 4th quarter valued at approximately $8,545,000. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $1,345.74 on Tuesday. 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 has a market capitalization of $30.93 billion, a price-to-earnings ratio of 68.24 and a beta of 1.69. The company’s 50 day simple moving average is $1,351.84 and its 200 day simple moving average is $1,230.24.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The company had revenue of $185.78 million for the quarter.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.45%.

Insider Buying and Selling at Texas Pacific Land

In other news, VP Micheal W. Dobbs sold 1,150 shares of the business’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 directly owns 1,393 shares in the company, 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 document filed with the SEC, which is available at the SEC website. 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 sale, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 59 shares of company stock valued at $78,629. 6.50% of the stock is currently owned by corporate insiders.

Texas Pacific Land Company 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.