Mufg Securities Americas Inc. Takes $307,000 Position in Texas Pacific Land Co. (NYSE:TPL)

Mufg Securities Americas Inc. purchased a new stake in Texas Pacific Land Co. (NYSE:TPL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 278 shares of the financial services provider’s stock, valued at approximately $307,000.

Several other hedge funds have also recently bought and sold shares of the stock. Bessemer Group Inc. increased its holdings in Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 13 shares in the last quarter. Assetmark Inc. acquired a new position in Texas Pacific Land during the 4th quarter worth about $29,000. Atala Financial Inc bought a new stake in Texas Pacific Land during the 4th quarter worth about $31,000. TD Waterhouse Canada Inc. increased its position in Texas Pacific Land by 45.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 15 shares in the last quarter. Finally, CoreCap Advisors LLC increased its position in Texas Pacific Land by 5,700.0% in the 4th quarter. CoreCap Advisors LLC now owns 58 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 57 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Trading Up 0.8%

Shares of NYSE TPL opened at $1,429.12 on Friday. Texas Pacific Land Co. has a 1-year low of $578.56 and a 1-year high of $1,769.14. The company has a 50-day moving average of $1,303.87 and a two-hundred day moving average of $1,320.81. The company has a market cap of $32.85 billion, a PE ratio of 72.47 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data 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). Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The company had revenue of $195.98 million during the quarter, compared to the consensus estimate of $211.00 million.

Texas Pacific Land Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.45%. Texas Pacific Land’s payout ratio is currently 32.02%.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land 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 transaction of $1,462,248.00. Following the transaction, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. This represents a 45.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were 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 directly owns 3,502 shares in the company, valued at $4,601,592.98. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 113 shares of company stock worth $148,385 over the last 90 days. 6.50% of the stock is owned by insiders.

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.