Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Texas Pacific Land Co. (NYSE:TPL) by 127.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 29,499 shares of the financial services provider’s stock after purchasing an additional 16,532 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Texas Pacific Land were worth $35,724,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TPL. Hilltop Holdings Inc. raised its holdings in shares of Texas Pacific Land by 290.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock worth $1,606,000 after acquiring an additional 1,350 shares during the period. Quantinno Capital Management LP increased its position in Texas Pacific Land by 63.5% during the third quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock worth $2,634,000 after purchasing an additional 1,156 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Texas Pacific Land by 5.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock worth $7,864,000 after purchasing an additional 431 shares during the period. Everence Capital Management Inc. acquired a new position in Texas Pacific Land in the 4th quarter valued at about $641,000. Finally, Miracle Mile Advisors LLC purchased a new stake in shares of Texas Pacific Land in the 4th quarter valued at approximately $8,545,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insiders Place Their Bets

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the company’s stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 1,393 shares of the company’s stock, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased a total of 68 shares of company stock valued at $91,008 over the last 90 days. 6.50% of the stock is owned by company insiders.

Texas Pacific Land Stock Performance

TPL stock opened at $1,307.86 on Friday. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14. The firm has a market cap of $30.06 billion, a PE ratio of 66.32 and a beta of 1.69. The firm’s 50 day moving average price is $1,348.93 and its 200-day moving average price is $1,242.51.

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. The company had revenue of $185.78 million for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Announces Dividend

The business 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. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.49%. Texas Pacific Land’s 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.