Voya Investment Management LLC Boosts Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Voya Investment Management LLC raised its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 11.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,446 shares of the financial services provider’s stock after acquiring an additional 1,163 shares during the period. Voya Investment Management LLC’s holdings in Texas Pacific Land were worth $12,659,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Caprock Group LLC raised its stake in Texas Pacific Land by 3.0% during the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 8 shares during the last quarter. Huntington National Bank raised its stake in Texas Pacific Land by 2.8% during the 4th quarter. Huntington National Bank now owns 333 shares of the financial services provider’s stock valued at $368,000 after acquiring an additional 9 shares during the last quarter. Signaturefd LLC raised its stake in Texas Pacific Land by 11.1% during the 4th quarter. Signaturefd LLC now owns 100 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 10 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Texas Pacific Land by 21.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 12 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 13 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Up 1.3 %

NYSE TPL opened at $1,352.52 on Tuesday. The business’s 50 day moving average is $1,305.89 and its two-hundred day moving average is $1,297.85. Texas Pacific Land Co. has a 12-month low of $555.71 and a 12-month high of $1,769.14. The stock has a market capitalization of $31.09 billion, a price-to-earnings ratio of 68.59 and a beta of 1.44.

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

Texas Pacific Land Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s payout ratio is 32.45%.

Insiders Place Their Bets

In related news, VP Micheal W. Dobbs sold 1,150 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. This represents a 45.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Chris Steddum sold 214 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 90 shares of company stock worth $117,505. Company insiders own 6.50% of the company’s stock.

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.