Texas Pacific Land Co. (NYSE:TPL) Shares Acquired by RWA Wealth Partners LLC

RWA Wealth Partners LLC lifted its stake in Texas Pacific Land Co. (NYSE:TPL) by 359.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 16,599 shares of the financial services provider’s stock after acquiring an additional 12,990 shares during the quarter. RWA Wealth Partners LLC owned 0.07% of Texas Pacific Land worth $18,358,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Texas Pacific Land by 12.5% during the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider’s stock worth $2,599,426,000 after buying an additional 260,278 shares during the period. York GP Ltd. acquired a new position in Texas Pacific Land in the 4th quarter valued at about $101,859,000. Geode Capital Management LLC grew its position in Texas Pacific Land by 21.5% in the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after acquiring an additional 81,974 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Texas Pacific Land by 31.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider’s stock worth $198,669,000 after purchasing an additional 43,217 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Texas Pacific Land during the fourth quarter worth about $41,303,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $1,307.86 on Friday. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The company has a 50 day moving average price of $1,348.93 and a 200 day moving average price of $1,242.51. The stock has a market capitalization of $30.06 billion, a P/E ratio of 66.32 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The business had revenue of $185.78 million for 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s payout ratio is presently 32.45%.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were 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 of the company’s stock, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction on 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 sale, the vice president now directly owns 1,393 shares of the company’s stock, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 68 shares of company stock valued at $91,008. 6.50% of the stock is currently owned by corporate 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.