Texas Pacific Land Co. (NYSE:TPL) Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia increased its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 144.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,317 shares of the financial services provider’s stock after purchasing an additional 1,368 shares during the period. Bank of Nova Scotia’s holdings in Texas Pacific Land were worth $2,563,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Shelton Capital Management raised its position in shares of Texas Pacific Land by 161.8% during the 4th quarter. Shelton Capital Management now owns 1,906 shares of the financial services provider’s stock valued at $2,108,000 after buying an additional 1,178 shares during the period. Invesco Ltd. lifted its stake in shares of Texas Pacific Land by 203.4% in the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider’s stock valued at $331,321,000 after purchasing an additional 200,841 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Texas Pacific Land by 164.9% during the 4th quarter. Bank of Montreal Can now owns 17,377 shares of the financial services provider’s stock worth $19,218,000 after purchasing an additional 10,816 shares during the period. Titleist Asset Management LLC increased its position in shares of Texas Pacific Land by 23.1% during the 4th quarter. Titleist Asset Management LLC now owns 533 shares of the financial services provider’s stock worth $589,000 after purchasing an additional 100 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Texas Pacific Land by 16.4% in the 4th quarter. Russell Investments Group Ltd. now owns 9,501 shares of the financial services provider’s stock valued at $10,509,000 after buying an additional 1,340 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 78 shares of company stock worth $102,694 over the last three months. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $1,235.66 on Friday. Texas Pacific Land Co. has a 1-year low of $555.71 and a 1-year high of $1,769.14. The firm has a market cap of $28.40 billion, a PE ratio of 62.66 and a beta of 1.44. The company has a 50-day moving average of $1,321.56 and a two-hundred day moving average of $1,269.00.

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

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is currently 32.45%.

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.