Resona Asset Management Co. Ltd. Takes Position in Texas Pacific Land Co. (NYSE:TPL)

Resona Asset Management Co. Ltd. acquired a new stake in Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 5,774 shares of the financial services provider’s stock, valued at approximately $6,416,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Huntington National Bank raised its holdings in shares of Texas Pacific Land by 2.8% during the fourth quarter. Huntington National Bank now owns 333 shares of the financial services provider’s stock valued at $368,000 after buying an additional 9 shares during the last quarter. Groupama Asset Managment acquired a new stake in Texas Pacific Land in the 4th quarter valued at approximately $1,939,000. Headlands Technologies LLC bought a new stake in Texas Pacific Land during the 4th quarter valued at $552,000. Geode Capital Management LLC boosted its position in Texas Pacific Land by 34.5% during the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider’s stock worth $693,023,000 after acquiring an additional 159,597 shares during the period. Finally, National Bank of Canada FI grew its stake in shares of Texas Pacific Land by 313.2% in the fourth quarter. National Bank of Canada FI now owns 9,015 shares of the financial services provider’s stock worth $9,970,000 after purchasing an additional 6,833 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of TPL opened at $1,153.57 on Tuesday. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14. The stock’s fifty day moving average is $1,334.28 and its 200-day moving average is $1,262.71. The firm has a market capitalization of $26.51 billion, a price-to-earnings ratio of 58.50 and a beta of 1.44.

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

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.55%. Texas Pacific Land’s payout ratio is 32.45%.

Insiders Place Their Bets

In related news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction dated 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 directly owns 1,393 shares of the company’s stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Chris Steddum sold 214 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of the sale, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at $4,601,592.98. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought 74 shares of company stock worth $98,891 over the last ninety days. Company insiders own 6.50% of the company’s stock.

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.