Texas Pacific Land Co. (NYSE:TPL) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. raised its holdings in Texas Pacific Land Co. (NYSE:TPL) by 449.3% during the 4th quarter, Holdings Channel reports. The firm owned 21,313 shares of the financial services provider’s stock after buying an additional 17,433 shares during the quarter. Prudential Financial Inc.’s holdings in Texas Pacific Land were worth $23,571,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Texas Pacific Land by 12.5% in the 4th 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. State Street Corp lifted its holdings in Texas Pacific Land by 3.8% during the third quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock valued at $674,727,000 after purchasing an additional 27,884 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Texas Pacific Land by 21.5% in the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after purchasing an additional 81,974 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of 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 in the last quarter. Finally, Douglass Winthrop Advisors LLC raised its position in shares of Texas Pacific Land by 0.3% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 99,457 shares of the financial services provider’s stock worth $109,995,000 after purchasing an additional 259 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Down 0.2 %

Shares of Texas Pacific Land stock opened at $1,360.00 on Thursday. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14. The firm’s 50-day moving average price is $1,352.22 and its 200 day moving average price is $1,235.10. The firm has a market capitalization of $31.26 billion, a PE ratio of 68.97 and a beta of 1.69.

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

Texas Pacific Land Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend yield of 0.47%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s payout ratio is 32.45%.

Insider Activity

In related news, VP Micheal W. Dobbs sold 1,150 shares of the 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 value of $1,462,248.00. Following the completion of the sale, the vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction that occurred 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 transaction, the chief financial officer now owns 3,502 shares in the company, 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 acquired 65 shares of company stock worth $86,911 over the last three months. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Company 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.