6,257 Shares in Texas Pacific Land Co. (NYSE:TPL) Bought by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ bought a new position in Texas Pacific Land Co. (NYSE:TPL) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 6,257 shares of the financial services provider’s stock, valued at approximately $6,920,000.

Other large investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in Texas Pacific Land by 108.3% in the 4th 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 period. Assetmark Inc. bought a new stake in Texas Pacific Land in the 4th quarter worth $29,000. Atala Financial Inc bought a new stake in Texas Pacific Land in the 4th quarter worth $31,000. TD Waterhouse Canada Inc. grew its holdings 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 worth $53,000 after acquiring an additional 15 shares during the last quarter. Finally, CoreCap Advisors LLC grew its holdings 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 worth $64,000 after acquiring an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 1.8%

Shares of Texas Pacific Land stock opened at $1,220.55 on Thursday. The firm has a market cap of $28.06 billion, a PE ratio of 61.89 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. The company’s fifty day simple moving average is $1,300.08 and its two-hundred day simple moving average is $1,323.98.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing analysts’ consensus estimates of $5.27 by ($0.03). The company had revenue of $195.98 million for the quarter, compared to the consensus estimate 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 Announces Dividend

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 paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land’s payout ratio is 32.02%.

Insider Activity

In other news, CFO Chris Steddum sold 214 shares of Texas Pacific Land 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 sale, the chief financial officer now owns 3,502 shares of the company’s stock, valued at approximately $4,601,592.98. The trade was a 5.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land 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 sale, the vice president now directly owns 1,393 shares in the company, valued at $1,771,227.36. The trade was a 45.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 158 shares of company stock valued at $209,433. Corporate 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.