Invesco Ltd. Buys 200,841 Shares of Texas Pacific Land Co. (NYSE:TPL)

Invesco Ltd. lifted its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 203.4% in the fourth quarter, HoldingsChannel reports. The fund owned 299,578 shares of the financial services provider’s stock after acquiring an additional 200,841 shares during the period. Invesco Ltd.’s holdings in Texas Pacific Land were worth $331,321,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Texas Pacific Land by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider’s stock worth $2,599,426,000 after acquiring an additional 260,278 shares in the last quarter. Geode Capital Management LLC grew its position in Texas Pacific Land by 34.5% in the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider’s stock valued at $693,023,000 after acquiring an additional 159,597 shares during the last quarter. York GP Ltd. bought a new position in shares of Texas Pacific Land during the 4th quarter worth $101,859,000. Charles Schwab Investment Management Inc. grew its position in shares of Texas Pacific Land by 31.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider’s stock worth $198,669,000 after buying an additional 43,217 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Texas Pacific Land during the 4th quarter worth $41,303,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $1,274.13 on Thursday. The stock has a 50-day moving average of $1,327.06 and a two-hundred day moving average of $1,265.21. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14. The stock has a market cap of $29.29 billion, a PE ratio of 64.61 and a beta of 1.44.

Texas Pacific Land (NYSE:TPL) last posted its 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 firm had revenue of $185.78 million for the quarter.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is presently 32.45%.

Insider Buying and Selling

In other Texas Pacific Land 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 sale, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. The trade was a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction on 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 76 shares of company stock worth $100,684. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land 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.