NEOS Investment Management LLC Takes $1.03 Million Position in Texas Pacific Land Co. (NYSE:TPL)

NEOS Investment Management LLC acquired a new position in Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 933 shares of the financial services provider’s stock, valued at approximately $1,032,000.

Several other large investors have also recently bought and sold shares of the company. Assetmark Inc. bought a new stake in shares of Texas Pacific Land during the fourth quarter worth $29,000. Atala Financial Inc bought a new position in Texas Pacific Land in the fourth quarter valued at about $31,000. Quest Partners LLC acquired a new stake in Texas Pacific Land in the third quarter worth about $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Texas Pacific Land during the 4th quarter worth about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in Texas Pacific Land by 21.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $1,307.86 on Friday. The company has a 50 day moving average of $1,348.93 and a 200-day moving average of $1,242.51. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14. The stock has a market cap of $30.06 billion, a price-to-earnings ratio of 66.32 and a beta of 1.69.

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

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.45%.

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 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 completion of the sale, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. This represents a 45.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total value of $281,193.86. Following the sale, the chief financial officer now directly owns 3,502 shares in the company, valued at $4,601,592.98. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 68 shares of company stock worth $91,008. 6.50% of the stock is currently owned by company insiders.

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.