GABELLI & Co INVESTMENT ADVISERS INC. Makes New Investment in Texas Pacific Land Co. (NYSE:TPL)

GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,260 shares of the financial services provider’s stock, valued at approximately $1,394,000.

Other large investors have also recently made changes to their positions in the company. Bessemer Group Inc. grew its stake in shares of Texas Pacific Land by 108.3% during the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock valued at $28,000 after buying an additional 13 shares during the last quarter. Assetmark Inc. purchased a new stake in Texas Pacific Land in the fourth quarter worth $29,000. Atala Financial Inc bought a new stake in shares of Texas Pacific Land during the fourth quarter worth $31,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Texas Pacific Land during the fourth quarter valued at $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of 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 worth $76,000 after purchasing an additional 12 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction 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 transaction, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm’s stock in a transaction on 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 completion of the sale, the vice president now directly 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. In the last 90 days, insiders have purchased 80 shares of company stock valued at $104,934. 6.50% of the stock is currently owned by corporate insiders.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $1,244.87 on Tuesday. The stock has a market cap of $28.61 billion, a price-to-earnings ratio of 63.13 and a beta of 1.44. The firm has a 50-day moving average of $1,318.58 and a two-hundred day moving average of $1,274.27. Texas Pacific Land Co. has a 1 year low of $555.71 and a 1 year high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The company had revenue of $185.78 million for 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) 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.