Bank of Montreal Can Buys 10,816 Shares of Texas Pacific Land Co. (NYSE:TPL)

Bank of Montreal Can lifted its position in Texas Pacific Land Co. (NYSE:TPL) by 164.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,377 shares of the financial services provider’s stock after acquiring an additional 10,816 shares during the period. Bank of Montreal Can owned approximately 0.08% of Texas Pacific Land worth $19,218,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in Texas Pacific Land by 19.9% in the fourth quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider’s stock worth $44,979,000 after purchasing an additional 6,747 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of Texas Pacific Land by 5.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock valued at $7,864,000 after buying an additional 431 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in Texas Pacific Land during the 4th quarter worth $641,000. Miracle Mile Advisors LLC bought a new position in Texas Pacific Land during the fourth quarter worth about $8,545,000. Finally, Brave Asset Management Inc. grew its stake in Texas Pacific Land by 87.1% in the fourth quarter. Brave Asset Management Inc. now owns 537 shares of the financial services provider’s stock valued at $594,000 after acquiring an additional 250 shares during the period. Institutional investors own 59.94% of the company’s stock.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of the transaction, the chief financial officer now owns 3,502 shares of the company’s stock, valued at $4,601,592.98. This represents a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction that occurred on 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 owns 1,393 shares in the company, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 78 shares of company stock valued at $102,694. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock opened at $1,235.66 on Friday. Texas Pacific Land Co. has a 1 year low of $555.71 and a 1 year high of $1,769.14. The company has a market capitalization of $28.40 billion, a P/E ratio of 62.66 and a beta of 1.44. The business has a 50-day moving average of $1,321.56 and a two-hundred day moving average of $1,269.00.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The business 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 issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.52%. Texas Pacific Land’s payout ratio is 32.45%.

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.