NewEdge Advisors LLC Has $580,000 Stake in Texas Pacific Land Co. (NYSE:TPL)

NewEdge Advisors LLC increased its position in Texas Pacific Land Co. (NYSE:TPL) by 58.6% in the fourth quarter, HoldingsChannel reports. The firm owned 525 shares of the financial services provider’s stock after acquiring an additional 194 shares during the period. NewEdge Advisors LLC’s holdings in Texas Pacific Land were worth $580,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in shares of Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock valued at $28,000 after buying an additional 13 shares during the period. Assetmark Inc. acquired a new stake in shares of Texas Pacific Land during the 4th quarter valued at $29,000. Atala Financial Inc acquired a new stake in shares of Texas Pacific Land during the 4th quarter valued at $31,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Texas Pacific Land during the 4th quarter valued at $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Texas Pacific Land by 21.1% during 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. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Activity

In related news, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction 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 transaction, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the completion of the transaction, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 87 shares of company stock worth $113,534. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Stock Down 0.2 %

Shares of NYSE:TPL opened at $1,333.73 on Monday. The firm has a fifty day moving average of $1,306.98 and a two-hundred day moving average of $1,295.81. The firm has a market capitalization of $30.66 billion, a P/E ratio of 67.63 and a beta of 1.44. 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 quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The business had revenue of $185.78 million for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $1.60 per share. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. Texas Pacific Land’s dividend payout ratio 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.