Texas Pacific Land Co. (NYSE:TPL) Shares Bought by Titleist Asset Management LLC

Titleist Asset Management LLC increased its position in Texas Pacific Land Co. (NYSE:TPL) by 23.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 533 shares of the financial services provider’s stock after buying an additional 100 shares during the quarter. Titleist Asset Management LLC’s holdings in Texas Pacific Land were worth $589,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TPL. Russell Investments Group Ltd. lifted its holdings in Texas Pacific Land by 16.4% in the 4th quarter. Russell Investments Group Ltd. now owns 9,501 shares of the financial services provider’s stock valued at $10,509,000 after acquiring an additional 1,340 shares during the last quarter. Aviva PLC lifted its stake in Texas Pacific Land by 734.6% during the fourth quarter. Aviva PLC now owns 12,177 shares of the financial services provider’s stock valued at $13,467,000 after purchasing an additional 10,718 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in Texas Pacific Land during the fourth quarter worth approximately $6,416,000. Huntington National Bank grew its position in Texas Pacific Land by 2.8% in the fourth quarter. Huntington National Bank now owns 333 shares of the financial services provider’s stock worth $368,000 after buying an additional 9 shares during the last quarter. Finally, Groupama Asset Managment acquired a new position in Texas Pacific Land in the fourth quarter worth approximately $1,939,000. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL opened at $1,077.32 on Monday. The company has a market capitalization of $24.76 billion, a PE ratio of 54.63 and a beta of 1.44. The stock has a fifty day moving average of $1,336.23 and a 200-day moving average of $1,261.04. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14.

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

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s payout ratio is 32.45%.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of Texas Pacific Land 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 transaction of $281,193.86. Following the transaction, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their position. 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 stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the sale, the vice president now owns 1,393 shares of the company’s stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 71 shares of company stock valued at $95,395 over the last ninety days. Corporate insiders own 6.50% of the company’s stock.

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.