Douglass Winthrop Advisors LLC Increases Stake in Texas Pacific Land Co. (NYSE:TPL)

Douglass Winthrop Advisors LLC raised its position in Texas Pacific Land Co. (NYSE:TPL) by 0.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 99,457 shares of the financial services provider’s stock after purchasing an additional 259 shares during the period. Texas Pacific Land accounts for approximately 2.1% of Douglass Winthrop Advisors LLC’s portfolio, making the stock its 18th biggest holding. Douglass Winthrop Advisors LLC’s holdings in Texas Pacific Land were worth $109,995,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. purchased a new position in shares of Texas Pacific Land during the 4th quarter worth $29,000. Atala Financial Inc purchased a new position in shares of Texas Pacific Land during the 4th quarter worth $31,000. Quest Partners LLC purchased a new position in shares of Texas Pacific Land during the 3rd quarter worth $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Texas Pacific Land in the 4th quarter valued at about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after buying an additional 12 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 0.8 %

Shares of TPL opened at $1,373.63 on Friday. The firm has a market cap of $31.57 billion, a P/E ratio of 69.66 and a beta of 1.69. The company’s 50-day moving average price is $1,351.26 and its 200 day moving average price is $1,217.74. Texas Pacific Land Co. has a 12-month low of $555.71 and a 12-month high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last released 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 return on equity of 40.23% and a net margin of 64.32%. The company had revenue of $185.78 million during the quarter.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given 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 of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is presently 32.45%.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the business’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 value of $1,462,248.00. Following the completion of the sale, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 57 shares of company stock valued at $75,675. 6.50% of the stock is currently owned by corporate insiders.

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.