Gotham Asset Management LLC Buys 3,889 Shares of Texas Pacific Land Co. (NYSE:TPL)

Gotham Asset Management LLC increased its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 212.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,716 shares of the financial services provider’s stock after buying an additional 3,889 shares during the quarter. Gotham Asset Management LLC’s holdings in Texas Pacific Land were worth $6,322,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Focus Partners Wealth increased its holdings in Texas Pacific Land by 0.6% in the 4th quarter. Focus Partners Wealth now owns 23,648 shares of the financial services provider’s stock worth $26,155,000 after acquiring an additional 137 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in Texas Pacific Land by 43.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 10,725 shares of the financial services provider’s stock worth $11,861,000 after acquiring an additional 3,255 shares during the last quarter. Ethic Inc. increased its holdings in Texas Pacific Land by 144.0% in the 4th quarter. Ethic Inc. now owns 2,870 shares of the financial services provider’s stock worth $3,174,000 after acquiring an additional 1,694 shares during the last quarter. FORA Capital LLC purchased a new stake in Texas Pacific Land in the 4th quarter worth about $4,755,000. Finally, Deutsche Bank AG increased its holdings in Texas Pacific Land by 102.9% in the 4th quarter. Deutsche Bank AG now owns 64,643 shares of the financial services provider’s stock worth $71,493,000 after acquiring an additional 32,778 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL opened at $1,381.64 on Wednesday. The stock’s 50-day simple moving average is $1,299.71 and its 200 day simple moving average is $1,315.79. The stock has a market capitalization of $31.76 billion, a price-to-earnings ratio of 70.06 and a beta of 1.20. Texas Pacific Land Co. has a 52-week low of $578.56 and a 52-week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) 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 analysts’ expectations of $211.00 million. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $1.60 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.46%. Texas Pacific Land’s payout ratio is currently 32.02%.

Insider Buying and Selling at Texas Pacific Land

In other news, CFO Chris Steddum sold 214 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the transaction, the chief financial officer now directly owns 3,502 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders have acquired a total of 104 shares of company stock valued at $135,964 in 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.