National Bank of Canada FI Buys 6,833 Shares of Texas Pacific Land Co. (NYSE:TPL)

National Bank of Canada FI increased its position in Texas Pacific Land Co. (NYSE:TPL) by 313.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,015 shares of the financial services provider’s stock after purchasing an additional 6,833 shares during the quarter. National Bank of Canada FI’s holdings in Texas Pacific Land were worth $9,970,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. bought a new position in shares of Texas Pacific Land during the 4th quarter worth $29,000. Atala Financial Inc acquired a new position in Texas Pacific Land during the 4th quarter valued at about $31,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Texas Pacific Land in the fourth quarter valued at about $66,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of 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 during the last quarter. Finally, Sentry Investment Management LLC acquired a new position in shares of Texas Pacific Land during the fourth quarter valued at about $87,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the sale, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the company’s stock in a transaction dated 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 owns 1,393 shares in the company, 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 quarter, insiders have acquired 72 shares of company stock worth $96,620. 6.50% of the stock is owned by company insiders.

Texas Pacific Land Stock Down 11.8 %

TPL stock opened at $1,077.32 on Friday. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14. The stock has a market capitalization of $24.76 billion, a PE ratio of 54.63 and a beta of 1.69. The firm has a 50 day moving average of $1,336.23 and a 200 day moving average of $1,258.38.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) 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 company also recently announced 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 dividend on an annualized basis and a yield of 0.59%. Texas Pacific Land’s dividend payout ratio is currently 32.45%.

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.