Compass Ion Advisors LLC Boosts Stake in Texas Pacific Land Co. (NYSE:TPL)

Compass Ion Advisors LLC lifted its stake in Texas Pacific Land Co. (NYSE:TPL) by 1.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,329 shares of the financial services provider’s stock after purchasing an additional 110 shares during the period. Texas Pacific Land accounts for approximately 1.1% of Compass Ion Advisors LLC’s holdings, making the stock its 16th largest position. Compass Ion Advisors LLC’s holdings in Texas Pacific Land were worth $9,212,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Assetmark Inc. purchased a new stake in Texas Pacific Land in the 4th quarter worth $29,000. Atala Financial Inc purchased a new stake in Texas Pacific Land in the 4th quarter worth $31,000. Quest Partners LLC purchased a new stake in Texas Pacific Land in the 3rd quarter worth $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Texas Pacific Land in the 4th quarter worth $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after buying an additional 12 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $1,342.44 on Wednesday. Texas Pacific Land Co. has a 52-week low of $553.33 and a 52-week high of $1,769.14. The firm has a market capitalization of $30.86 billion, a PE ratio of 68.08 and a beta of 1.69. The stock has a fifty day simple moving average of $1,347.30 and a two-hundred day simple moving average of $1,215.48.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The firm had revenue of $185.78 million during the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. Texas Pacific Land’s payout ratio is 32.45%.

Insider Activity

In other news, VP Micheal W. Dobbs sold 1,150 shares of the firm’s 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 transaction, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Chris Steddum sold 214 shares of the 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 of the company’s stock, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 51 shares of company stock worth $67,311 over the last 90 days. Corporate insiders own 6.50% of the company’s stock.

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.