BI Asset Management Fondsmaeglerselskab A S Acquires Shares of 492 Texas Pacific Land Co. (NYSE:TPL)

BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Texas Pacific Land Co. (NYSE:TPL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 492 shares of the financial services provider’s stock, valued at approximately $544,000.

A number of other hedge funds have also modified their holdings of TPL. JPMorgan Chase & Co. raised its holdings 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 acquiring an additional 6,747 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Texas Pacific Land during the fourth quarter worth approximately $641,000. Miracle Mile Advisors LLC purchased a new position in Texas Pacific Land during the fourth quarter worth approximately $8,545,000. Brave Asset Management Inc. boosted its stake 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 buying an additional 250 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in Texas Pacific Land by 12.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,502 shares of the financial services provider’s stock valued at $18,251,000 after buying an additional 1,891 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the company’s 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 transaction, the vice president now owns 1,393 shares of the company’s stock, valued at $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction dated 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. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired a total of 88 shares of company stock valued at $114,764 in the last quarter. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Up 0.6 %

NYSE TPL opened at $1,338.21 on Friday. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14. The business’s fifty day simple moving average is $1,308.63 and its 200-day simple moving average is $1,289.10. The firm has a market cap of $30.76 billion, a PE ratio of 67.86 and a beta of 1.44.

Texas Pacific Land (NYSE:TPL) last posted its 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 net margin of 64.32% and a return on equity of 40.23%.

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 $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. Texas Pacific Land’s dividend payout ratio is currently 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.