Ensign Peak Advisors Inc boosted its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 43.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,725 shares of the financial services provider's stock after acquiring an additional 3,255 shares during the period. Ensign Peak Advisors Inc's holdings in Texas Pacific Land were worth $11,861,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in TPL. Bessemer Group Inc. boosted its holdings in shares of Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after buying an additional 13 shares in the last quarter. Assetmark Inc. bought a new position in shares of Texas Pacific Land during the 4th quarter worth approximately $29,000. Atala Financial Inc bought a new position in shares of Texas Pacific Land during the 4th quarter worth approximately $31,000. TD Waterhouse Canada Inc. boosted its holdings in shares of Texas Pacific Land by 45.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock worth $53,000 after buying an additional 15 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its holdings in shares of Texas Pacific Land by 5,700.0% during the 4th quarter. CoreCap Advisors LLC now owns 58 shares of the financial services provider's stock worth $64,000 after buying an additional 57 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, VP Micheal W. Dobbs sold 1,150 shares of the 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 approximately $1,771,227.36. This represents a 45.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Chris Steddum sold 214 shares of the 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 of the company's stock, valued at $4,601,592.98. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 113 shares of company stock worth $148,385 in the last ninety days. Corporate insiders own 6.50% of the company's stock.
Texas Pacific Land Stock Performance
Shares of Texas Pacific Land stock traded up $12.02 on Friday, reaching $1,429.12. 108,942 shares of the company's stock were exchanged, compared to its average volume of 156,679. The company has a market capitalization of $32.85 billion, a P/E ratio of 72.47 and a beta of 1.20. Texas Pacific Land Co. has a 52 week low of $578.56 and a 52 week high of $1,769.14. The firm's 50-day moving average is $1,303.87 and its two-hundred day moving average is $1,323.07.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.27 by ($0.03). The business had revenue of $195.98 million for the quarter, compared to the consensus estimate of $211.00 million. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.
Texas Pacific Land Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land's dividend payout ratio is currently 32.02%.
Texas Pacific Land Company Profile
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Free Report)
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.
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