New Age Alpha Advisors LLC Acquires Shares of 2,824 Texas Pacific Land Co. (NYSE:TPL)

New Age Alpha Advisors LLC acquired a new position in Texas Pacific Land Co. (NYSE:TPL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,824 shares of the financial services provider’s stock, valued at approximately $3,123,000.

Several other hedge funds have also modified their holdings of TPL. Assetmark Inc. bought a new stake in Texas Pacific Land in the fourth quarter worth $29,000. Atala Financial Inc bought a new position in shares of Texas Pacific Land in the 4th quarter valued at about $31,000. Quest Partners LLC bought a new stake in Texas Pacific Land during the third quarter worth approximately $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Texas Pacific Land during the 4th quarter valued at approximately $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 12 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the business’s stock in a transaction dated 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 directly owns 3,502 shares of the company’s stock, valued at $4,601,592.98. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the sale, the vice president now directly owns 1,393 shares of the company’s stock, valued at $1,771,227.36. This represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 68 shares of company stock worth $91,008. 6.50% of the stock is currently owned by insiders.

Texas Pacific Land Trading Down 1.8 %

Texas Pacific Land stock opened at $1,307.86 on Friday. The firm has a market capitalization of $30.06 billion, a PE ratio of 66.32 and a beta of 1.69. Texas Pacific Land Co. has a 12-month low of $555.71 and a 12-month high of $1,769.14. The firm has a 50-day moving average price of $1,348.93 and a 200-day moving average price of $1,242.51.

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

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid 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 32.45%.

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.