Norinchukin Bank The Acquires Shares of 660 Texas Pacific Land Co. (NYSE:TPL)

Norinchukin Bank The bought a new stake in Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 660 shares of the financial services provider’s stock, valued at approximately $730,000.

A number of other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in Texas Pacific Land by 19.9% in the 4th quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider’s stock valued at $44,979,000 after buying an additional 6,747 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $641,000. Miracle Mile Advisors LLC acquired a new position in shares of Texas Pacific Land during the fourth quarter worth about $8,545,000. Brave Asset Management Inc. raised its holdings in Texas Pacific Land by 87.1% during the fourth quarter. Brave Asset Management Inc. now owns 537 shares of the financial services provider’s stock worth $594,000 after purchasing an additional 250 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Texas Pacific Land by 12.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,502 shares of the financial services provider’s stock worth $18,251,000 after purchasing an additional 1,891 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 4.9 %

Shares of TPL opened at $1,310.01 on Wednesday. The stock’s 50 day moving average is $1,310.05 and its two-hundred day moving average is $1,286.34. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14. The firm has a market capitalization of $30.11 billion, a PE ratio of 66.43 and a beta of 1.44.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share 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 for the quarter.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $1.60 per share. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.49%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.45%.

Insider Activity

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction dated Thursday, March 13th. The shares were 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 trade represents a 45.22 % decrease in their ownership of the stock. 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 Texas Pacific Land 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 transaction of $281,193.86. Following the sale, the chief financial officer now owns 3,502 shares of the company’s stock, valued at approximately $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 purchased 86 shares of company stock worth $112,203 in the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

Texas Pacific Land 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.