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

Crestline Management LP purchased a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, HoldingsChannel reports. The fund purchased 408 shares of the financial services provider’s stock, valued at approximately $451,000.

Several other hedge funds have also modified their holdings of the company. Cetera Investment Advisers lifted its position in Texas Pacific Land by 3.2% during the fourth quarter. Cetera Investment Advisers now owns 1,758 shares of the financial services provider’s stock valued at $1,945,000 after acquiring an additional 54 shares during the last quarter. Centiva Capital LP acquired a new position in shares of Texas Pacific Land during the fourth quarter worth $353,000. BOKF NA lifted its holdings in shares of Texas Pacific Land by 2.4% during the 4th quarter. BOKF NA now owns 953 shares of the financial services provider’s stock valued at $1,054,000 after purchasing an additional 22 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of Texas Pacific Land in the 4th quarter worth $428,000. Finally, Caxton Associates LP purchased a new position in Texas Pacific Land during the 4th quarter worth $504,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

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

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

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued 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 of this dividend is Monday, June 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.45%.

Insider Activity at Texas Pacific Land

In related news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction dated 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 completion of the sale, the vice president now owns 1,393 shares of the company’s stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $281,193.86. Following the completion of the transaction, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 100 shares of company stock valued at $130,700 in 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.