KLP Kapitalforvaltning AS Acquires Shares of 4,900 Texas Pacific Land Co. (NYSE:TPL)

KLP Kapitalforvaltning AS bought a new position in Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 4,900 shares of the financial services provider’s stock, valued at approximately $5,419,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TPL. Caprock Group LLC increased its position in shares of Texas Pacific Land by 3.0% during the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 8 shares in the last quarter. Signaturefd LLC boosted its stake in Texas Pacific Land by 11.1% during the 4th quarter. Signaturefd LLC now owns 100 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 10 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 12 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Texas Pacific Land by 3.0% in the third quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 13 shares during the last quarter. Finally, M&T Bank Corp raised its stake in shares of Texas Pacific Land by 2.1% in the fourth quarter. M&T Bank Corp now owns 941 shares of the financial services provider’s stock worth $1,041,000 after purchasing an additional 19 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the business’s stock in a transaction dated 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 sale, the vice president now directly owns 1,393 shares in the company, valued at $1,771,227.36. The trade was a 45.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the 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 completion of 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 disclosure for this sale can be found here. In the last ninety days, insiders purchased 59 shares of company stock worth $78,629. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $1,363.79 on Wednesday. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14. The business’s fifty day moving average is $1,352.55 and its 200 day moving average is $1,234.22. The stock has a market capitalization of $31.35 billion, a PE ratio of 69.16 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last announced its quarterly 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 net margin of 64.32% and a return on equity of 40.23%. The firm had revenue of $185.78 million for the quarter.

Texas Pacific Land Dividend Announcement

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. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 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.