Beacon Pointe Advisors LLC Boosts Holdings in Texas Pacific Land Co. (NYSE:TPL)

Beacon Pointe Advisors LLC grew its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 10.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,554 shares of the financial services provider’s stock after purchasing an additional 415 shares during the period. Beacon Pointe Advisors LLC’s holdings in Texas Pacific Land were worth $5,036,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. grew its position in Texas Pacific Land by 108.3% during the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock worth $28,000 after buying an additional 13 shares in the last quarter. Assetmark Inc. purchased a new position in shares of Texas Pacific Land during the fourth quarter worth about $29,000. Atala Financial Inc purchased a new position in shares of Texas Pacific Land during the fourth quarter worth about $31,000. TD Waterhouse Canada Inc. increased its position in shares of Texas Pacific Land by 45.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 15 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Texas Pacific Land in the fourth quarter valued at approximately $66,000. Institutional investors own 59.94% of the company’s stock.

Insider Buying and Selling

In other Texas Pacific Land news, 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 of the company’s stock, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders bought 92 shares of company stock worth $120,263 in the last quarter. 6.50% of the stock is owned by insiders.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $1,328.88 on Wednesday. The company’s fifty day moving average price is $1,303.60 and its 200-day moving average price is $1,298.07. The firm has a market capitalization of $30.54 billion, a price-to-earnings ratio of 67.39 and a beta of 1.44. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last announced 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 net margin of 64.32% and a return on equity of 40.23%. The company had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. Texas Pacific Land’s dividend payout ratio is 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.