Raymond James Financial Inc. Invests $41.30 Million in Texas Pacific Land Co. (NYSE:TPL)

Raymond James Financial Inc. 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 13F filing with the SEC. The firm purchased 37,346 shares of the financial services provider’s stock, valued at approximately $41,303,000. Raymond James Financial Inc. owned about 0.16% of Texas Pacific Land as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. acquired a new position in Texas Pacific Land in the fourth quarter valued at $29,000. Atala Financial Inc bought a new position in shares of Texas Pacific Land during the 4th quarter worth approximately $31,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Texas Pacific Land in the 4th quarter valued at $66,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 12 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in Texas Pacific Land in the fourth quarter worth $87,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

TPL stock opened at $1,262.83 on Wednesday. The company’s 50-day moving average is $1,317.16 and its 200-day moving average is $1,274.19. The stock has a market capitalization of $29.03 billion, a PE ratio of 64.04 and a beta of 1.44. 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 announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The business 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. Shareholders 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 annualized dividend and a yield of 0.51%. Texas Pacific Land’s payout ratio is 32.45%.

Insider Buying and Selling at Texas Pacific Land

In other news, CFO Chris Steddum sold 214 shares of the firm’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 value of $281,193.86. Following the transaction, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $1,462,248.00. Following the transaction, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 82 shares of company stock valued at $107,353. Corporate insiders own 6.50% of the company’s stock.

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.