Marietta Wealth Management LLC Boosts Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Marietta Wealth Management LLC increased its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 46.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,050 shares of the financial services provider’s stock after buying an additional 1,915 shares during the period. Marietta Wealth Management LLC’s holdings in Texas Pacific Land were worth $6,691,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TriaGen Wealth Management LLC boosted its stake in shares of Texas Pacific Land by 17.8% during the 4th quarter. TriaGen Wealth Management LLC now owns 1,763 shares of the financial services provider’s stock worth $1,950,000 after acquiring an additional 267 shares in the last quarter. Caprock Group LLC boosted its position in Texas Pacific Land by 3.0% during the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 8 shares in the last quarter. Mediolanum International Funds Ltd grew its holdings in Texas Pacific Land by 55.2% in the fourth quarter. Mediolanum International Funds Ltd now owns 7,033 shares of the financial services provider’s stock valued at $7,769,000 after purchasing an additional 2,502 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Texas Pacific Land by 373.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 10,860 shares of the financial services provider’s stock valued at $12,011,000 after buying an additional 8,566 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Texas Pacific Land by 68.9% during the 4th quarter. Pacer Advisors Inc. now owns 17,422 shares of the financial services provider’s stock worth $19,268,000 after buying an additional 7,109 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $1,297.07 on Friday. The stock has a market capitalization of $29.81 billion, a P/E ratio of 66.55 and a beta of 1.68. The company’s fifty day moving average price is $1,304.42 and its 200 day moving average price is $1,092.16. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter. The business had revenue of $173.56 million for the quarter. Texas Pacific Land had a net margin of 65.34% and a return on equity of 40.57%. During the same quarter last year, the business earned $4.58 EPS.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $1.60 per share. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, December 2nd. Texas Pacific Land’s payout ratio is 32.84%.

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the sale, the chief accounting officer now directly owns 584 shares in the company, valued at $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders bought 71 shares of company stock valued at $98,215 over the last quarter. 6.50% of the stock is currently owned by insiders.

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.