Crestline Management LP Acquires Shares of 408 Texas Pacific Land Co. (NYSE:TPL)

Crestline Management LP bought a new position in Texas Pacific Land Co. (NYSE:TPL) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 408 shares of the financial services provider’s stock, valued at approximately $451,000.

Several other hedge funds have also recently made changes to their positions in the business. Caprock Group LLC increased its position 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 valued at $302,000 after acquiring an additional 8 shares during the last quarter. Huntington National Bank raised its position in Texas Pacific Land by 2.8% in the 4th quarter. Huntington National Bank now owns 333 shares of the financial services provider’s stock worth $368,000 after purchasing an additional 9 shares during the period. Signaturefd LLC lifted its stake in Texas Pacific Land by 11.1% in the fourth 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 last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after buying an additional 12 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of Texas Pacific Land by 108.3% during the fourth 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 last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 1,393 shares in the company, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Chris Steddum sold 214 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $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. Over the last quarter, insiders purchased 100 shares of company stock valued at $130,700. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of NYSE TPL opened at $1,302.95 on Friday. The business’s 50 day moving average price is $1,298.70 and its 200-day moving average price is $1,312.08. Texas Pacific Land Co. has a fifty-two week low of $578.56 and a fifty-two week high of $1,769.14. The company has a market cap of $29.95 billion, a price-to-earnings ratio of 66.07 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL) last released 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). The business had revenue of $195.98 million for the quarter, compared to the consensus estimate of $211.00 million. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 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.