1,751 Shares in Texas Pacific Land Co. (NYSE:TPL) Bought by Groupama Asset Managment

Groupama Asset Managment purchased a new stake in Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,751 shares of the financial services provider’s stock, valued at approximately $1,939,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Texas Pacific Land by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider’s stock valued at $2,599,426,000 after acquiring an additional 260,278 shares during the period. Geode Capital Management LLC boosted its holdings in Texas Pacific Land by 34.5% during the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider’s stock valued at $693,023,000 after purchasing an additional 159,597 shares in the last quarter. York GP Ltd. bought a new stake in shares of Texas Pacific Land in the 4th quarter valued at approximately $101,859,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Texas Pacific Land by 31.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider’s stock worth $198,669,000 after buying an additional 43,217 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Texas Pacific Land during the 4th quarter worth approximately $41,303,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $1,391.20 on Thursday. The business’s fifty day moving average price is $1,345.52 and its two-hundred day moving average price is $1,254.25. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The stock has a market capitalization of $31.98 billion, a price-to-earnings ratio of 70.55 and a beta of 1.69.

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

Texas Pacific Land Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.46%. 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 other Texas Pacific Land news, 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 value of $281,193.86. Following the completion of the sale, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 69 shares of company stock valued at $92,626 in the last three months. 6.50% of the stock is owned by corporate 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.