Centiva Capital LP Takes Position in Texas Pacific Land Co. (NYSE:TPL)

Centiva Capital LP bought a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 319 shares of the financial services provider’s stock, valued at approximately $353,000.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of 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 purchasing an additional 6,747 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in shares of Texas Pacific Land during the fourth quarter valued at $8,545,000. Brave Asset Management Inc. lifted its holdings in shares of 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 valued at $594,000 after purchasing an additional 250 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of 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 last quarter. Finally, Fisher Asset Management LLC purchased a new stake in shares of Texas Pacific Land during the fourth quarter valued at $380,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Chris Steddum sold 214 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction on 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 sale, the vice president now directly owns 1,393 shares of the company’s stock, valued at approximately $1,771,227.36. The trade was a 45.22% decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 99 shares of company stock worth $129,320 in the last quarter. 6.50% of the stock is currently owned by corporate insiders.

Texas Pacific Land Trading Up 1.2%

NYSE:TPL opened at $1,302.95 on Monday. The firm has a market capitalization of $29.95 billion, a price-to-earnings ratio of 66.07 and a beta of 1.20. Texas Pacific Land Co. has a 1-year low of $578.56 and a 1-year high of $1,769.14. The business’s fifty day moving average price is $1,298.70 and its 200 day moving average price is $1,313.63.

Texas Pacific Land (NYSE:TPL) last posted its quarterly 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 analyst estimates 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 firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land’s payout ratio is 32.02%.

About Texas Pacific Land

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.