Texas Pacific Land Co. (NYSE:TPL) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in Texas Pacific Land Co. (NYSE:TPL) by 12.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,350,380 shares of the financial services provider’s stock after purchasing an additional 260,278 shares during the quarter. Vanguard Group Inc. owned about 0.10% of Texas Pacific Land worth $2,599,426,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assetmark Inc. purchased a new position in Texas Pacific Land during the 4th quarter worth approximately $29,000. Atala Financial Inc acquired a new stake in shares of Texas Pacific Land in the fourth quarter worth $31,000. Quest Partners LLC purchased a new position in shares of Texas Pacific Land during the third quarter worth $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Texas Pacific Land during the fourth quarter valued at $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Texas Pacific Land by 21.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 12 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL opened at $1,363.79 on Wednesday. The business’s 50-day moving average is $1,352.55 and its two-hundred day moving average is $1,234.22. The company has a market capitalization of $31.35 billion, a P/E ratio of 69.16 and a beta of 1.69. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14.

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 return on equity of 40.23% and a net margin of 64.32%. The company had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.45%.

Insider Activity at Texas Pacific Land

In other news, VP Micheal W. Dobbs sold 1,150 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction 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. This trade represents a 45.22 % decrease in their position. 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 company’s stock in a transaction dated 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 of the company’s stock, 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 bought 59 shares of company stock worth $78,629. 6.50% of the stock is owned by company 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.