Scientech Research LLC Buys New Shares in Texas Pacific Land Co. (NYSE:TPL)

Scientech Research LLC bought a new stake in Texas Pacific Land Co. (NYSE:TPL) during the fourth quarter, HoldingsChannel reports. The firm bought 1,877 shares of the financial services provider’s stock, valued at approximately $2,076,000. Texas Pacific Land comprises about 0.6% of Scientech Research LLC’s holdings, making the stock its 7th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of TPL. Caprock Group LLC boosted its stake in shares of Texas Pacific Land by 3.0% in the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock valued at $302,000 after buying an additional 8 shares during the period. Huntington National Bank raised its position in Texas Pacific Land by 2.8% during the fourth quarter. Huntington National Bank now owns 333 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 9 shares in the last quarter. Signaturefd LLC raised its position in Texas Pacific Land by 11.1% during the fourth quarter. Signaturefd LLC now owns 100 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 10 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised 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 purchasing an additional 12 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in Texas Pacific Land by 108.3% during the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 13 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, 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 transaction, the vice president now owns 1,393 shares of the company’s stock, valued at $1,771,227.36. This trade represents a 45.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 sale, the chief financial officer now owns 3,502 shares of the company’s stock, valued at approximately $4,601,592.98. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 113 shares of company stock valued at $148,385. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL opened at $1,429.12 on Friday. The company has a fifty day moving average of $1,303.87 and a 200-day moving average of $1,320.81. The company has a market capitalization of $32.85 billion, a PE ratio of 72.47 and a beta of 1.20. Texas Pacific Land Co. has a 52-week low of $578.56 and a 52-week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing analysts’ consensus estimates of $5.27 by ($0.03). Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The company had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $1.60 dividend. The ex-dividend date is Monday, June 2nd. This represents a $6.40 annualized dividend and a yield of 0.45%. Texas Pacific Land’s payout ratio is 32.02%.

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.