Texas Pacific Land Co. (NYSE:TPL) Shares Acquired by Ethic Inc.

Ethic Inc. increased its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 144.0% during the 4th quarter, Holdings Channel reports. The fund owned 2,870 shares of the financial services provider’s stock after purchasing an additional 1,694 shares during the quarter. Ethic Inc.’s holdings in Texas Pacific Land were worth $3,174,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caprock Group LLC increased its stake in Texas Pacific Land by 3.0% during the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 8 shares during the last quarter. Huntington National Bank lifted its stake in shares of Texas Pacific Land by 2.8% in the 4th quarter. Huntington National Bank now owns 333 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 9 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Texas Pacific Land by 11.1% during the 4th quarter. Signaturefd LLC now owns 100 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 10 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of 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 worth $76,000 after purchasing an additional 12 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in Texas Pacific Land by 108.3% in the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock valued at $28,000 after buying an additional 13 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Chris Steddum sold 214 shares of the firm’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 completion of the transaction, the chief financial officer now 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 document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $1,462,248.00. Following the sale, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 100 shares of company stock valued at $130,700. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Price Performance

Shares of TPL opened at $1,302.95 on Friday. The firm has a 50-day simple moving average of $1,298.70 and a two-hundred day simple moving average of $1,312.08. Texas Pacific Land Co. has a 1-year low of $578.56 and a 1-year high of $1,769.14. The stock has a market cap of $29.95 billion, a PE ratio of 66.07 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.27 by ($0.03). Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The company had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $1.60 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. Texas Pacific Land’s dividend payout ratio is presently 32.45%.

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.