Texas Pacific Land Co. (NYSE:TPL) Shares Purchased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lifted its stake in Texas Pacific Land Co. (NYSE:TPL) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,147 shares of the financial services provider’s stock after purchasing an additional 956 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Texas Pacific Land were worth $10,116,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TPL. Quest Partners LLC acquired a new stake in shares of Texas Pacific Land in the third quarter valued at approximately $50,000. Caprock Group LLC acquired a new stake in shares of Texas Pacific Land in the third quarter valued at approximately $234,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Texas Pacific Land in the third quarter valued at approximately $395,000. Pacer Advisors Inc. increased its holdings in shares of Texas Pacific Land by 102.6% in the third quarter. Pacer Advisors Inc. now owns 10,313 shares of the financial services provider’s stock valued at $9,124,000 after purchasing an additional 5,223 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Texas Pacific Land by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock valued at $120,694,000 after purchasing an additional 1,984 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Buying and Selling

In other news, 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 transaction of $1,462,248.00. Following the completion of the transaction, the vice president now directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 57 shares of company stock worth $75,675. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $1,275.33 on Friday. The stock has a market cap of $29.31 billion, a PE ratio of 64.67 and a beta of 1.69. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14. The stock has a 50 day moving average price of $1,350.80 and a 200 day moving average price of $1,223.39.

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

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.50%. 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.