DnB Asset Management AS Has $4.14 Million Position in Texas Pacific Land Co. (NYSE:TPL)

DnB Asset Management AS boosted its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,741 shares of the financial services provider’s stock after purchasing an additional 58 shares during the quarter. DnB Asset Management AS’s holdings in Texas Pacific Land were worth $4,137,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hilltop Holdings Inc. boosted its stake in Texas Pacific Land by 290.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock valued at $1,606,000 after purchasing an additional 1,350 shares during the period. Quantinno Capital Management LP grew its stake in shares of Texas Pacific Land by 63.5% in the third quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock worth $2,634,000 after acquiring an additional 1,156 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Texas Pacific Land by 5.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock worth $7,864,000 after acquiring an additional 431 shares during the period. Everence Capital Management Inc. acquired a new position in Texas Pacific Land during the 4th quarter valued at $641,000. Finally, Miracle Mile Advisors LLC bought a new stake in Texas Pacific Land in the 4th quarter valued at $8,545,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Activity

In other news, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 1,393 shares of the company’s stock, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Chris Steddum sold 214 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 67 shares of company stock worth $89,873. 6.50% of the stock is currently owned by corporate insiders.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $1,327.83 on Tuesday. The firm’s 50-day moving average is $1,347.30 and its 200-day moving average is $1,249.46. The company has a market cap of $30.52 billion, a price-to-earnings ratio of 67.33 and a beta of 1.69. Texas Pacific Land Co. has a 52-week low of $555.71 and a 52-week high of $1,769.14.

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

Texas Pacific Land Announces Dividend

The firm also recently declared 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 yield of 0.48%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 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.