EP Wealth Advisors LLC Purchases 395 Shares of Texas Pacific Land Co. (NYSE:TPL)

EP Wealth Advisors LLC boosted its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 38.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,412 shares of the financial services provider’s stock after acquiring an additional 395 shares during the quarter. EP Wealth Advisors LLC’s holdings in Texas Pacific Land were worth $1,562,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted 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 purchasing an additional 260,278 shares during the last quarter. Invesco Ltd. raised its stake in Texas Pacific Land by 203.4% in the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider’s stock valued at $331,321,000 after buying an additional 200,841 shares during the period. Geode Capital Management LLC lifted its position in shares of Texas Pacific Land by 34.5% in the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider’s stock valued at $693,023,000 after buying an additional 159,597 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Texas Pacific Land by 943.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider’s stock worth $133,883,000 after acquiring an additional 109,455 shares during the period. Finally, York GP Ltd. acquired a new position in shares of Texas Pacific Land during the 4th quarter worth approximately $101,859,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Buying and Selling

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the business’s 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 completion of the sale, the vice president now owns 1,393 shares of the company’s stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Chris Steddum sold 214 shares of the firm’s 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 transaction of $281,193.86. Following the transaction, the chief financial officer now directly owns 3,502 shares in the company, valued at $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 100 shares of company stock valued at $130,700. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock opened at $1,302.95 on Friday. Texas Pacific Land Co. has a 1 year low of $578.56 and a 1 year high of $1,769.14. The company has a market capitalization of $29.95 billion, a price-to-earnings ratio of 66.07 and a beta of 1.20. The business has a fifty day simple moving average of $1,298.70 and a two-hundred day simple moving average of $1,310.51.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing the consensus estimate of $5.27 by ($0.03). The company had revenue of $195.98 million for the quarter, compared to the consensus estimate 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 company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.49%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.45%.

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.