CoreCap Advisors LLC Purchases 57 Shares of Texas Pacific Land Co. (NYSE:TPL)

CoreCap Advisors LLC raised its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 5,700.0% during the fourth quarter, HoldingsChannel reports. The fund owned 58 shares of the financial services provider’s stock after acquiring an additional 57 shares during the quarter. CoreCap Advisors LLC’s holdings in Texas Pacific Land were worth $64,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. 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 grew its holdings in shares of Texas Pacific Land by 2.8% in the fourth 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 last quarter. Signaturefd LLC grew its holdings in shares of 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. grew its holdings in shares of Texas Pacific Land by 21.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 12 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 13 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Insider Transactions at Texas Pacific Land

In related 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 completion of the sale, the vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Chris Steddum sold 214 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at approximately $4,601,592.98. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 104 shares of company stock worth $135,964. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Trading Up 3.0%

NYSE TPL opened at $1,381.64 on Wednesday. The company’s 50-day moving average price is $1,299.71 and its 200-day moving average price is $1,315.79. The stock has a market cap of $31.76 billion, a PE ratio of 70.06 and a beta of 1.20. Texas Pacific Land Co. has a 12 month low of $578.56 and a 12 month high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing analysts’ consensus estimates of $5.27 by ($0.03). The company had revenue of $195.98 million during 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 declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land’s payout ratio is presently 32.02%.

Texas Pacific Land 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.