First Trust Advisors LP Has $99.71 Million Stock Position in Texas Pacific Land Co. (NYSE:TPL)

First Trust Advisors LP boosted its holdings in Texas Pacific Land Co. (NYSE:TPL) by 10.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 90,152 shares of the financial services provider’s stock after acquiring an additional 8,593 shares during the quarter. First Trust Advisors LP’s holdings in Texas Pacific Land were worth $99,705,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Texas Pacific Land by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider’s stock valued at $2,599,426,000 after purchasing an additional 260,278 shares in the last quarter. Invesco Ltd. boosted its position in Texas Pacific Land by 203.4% in the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider’s stock valued at $331,321,000 after buying an additional 200,841 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Texas Pacific Land by 34.5% during the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider’s stock worth $693,023,000 after buying an additional 159,597 shares during the last quarter. York GP Ltd. acquired a new position in shares of Texas Pacific Land during the fourth quarter worth $101,859,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Texas Pacific Land by 31.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider’s stock valued at $198,669,000 after acquiring an additional 43,217 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 1.4 %

Shares of TPL stock opened at $1,295.51 on Monday. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14. The stock’s fifty day simple moving average is $1,312.81 and its 200 day simple moving average is $1,284.28. The firm has a market capitalization of $29.78 billion, a P/E ratio of 65.70 and a beta of 1.44.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results 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 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 declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.45%.

Insider Transactions at Texas Pacific Land

In other news, CFO Chris Steddum sold 214 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. The trade was 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 on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the completion of the sale, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 84 shares of company stock worth $109,748. Company insiders own 6.50% of the company’s stock.

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.