Quantinno Capital Management LP Purchases 14 Shares of Texas Pacific Land Co. (NYSE:TPL)

Quantinno Capital Management LP boosted its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,990 shares of the financial services provider’s stock after buying an additional 14 shares during the period. Quantinno Capital Management LP’s holdings in Texas Pacific Land were worth $3,308,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Texas Pacific Land by 19.9% during the fourth 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 last quarter. Janney Montgomery Scott LLC raised its position 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 valued at $18,251,000 after purchasing an additional 1,891 shares during the period. Fisher Asset Management LLC purchased a new stake in Texas Pacific Land during the fourth quarter valued at approximately $380,000. Atria Wealth Solutions Inc. raised its position in Texas Pacific Land by 64.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,069 shares of the financial services provider’s stock valued at $1,182,000 after purchasing an additional 420 shares during the period. Finally, New York Life Investment Management LLC purchased a new stake in Texas Pacific Land during the fourth quarter valued at approximately $2,796,000. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $1,416.90 on Tuesday. Texas Pacific Land Co. has a 1 year low of $578.56 and a 1 year high of $1,769.14. The stock’s 50 day simple moving average is $1,305.22 and its two-hundred day simple moving average is $1,324.78. The company has a market cap of $32.57 billion, a PE ratio of 71.85 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $211.00 million.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.45%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.02%.

Insider Buying and Selling at Texas Pacific Land

In other news, CFO Chris Steddum sold 214 shares of the 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 sale, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the 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 completion of the sale, the vice president now 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. Insiders have purchased a total of 122 shares of company stock worth $161,200 over the last ninety days. Company insiders own 6.50% of the company’s stock.

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.