O Shaughnessy Asset Management LLC Boosts Stake in Texas Pacific Land Co. (NYSE:TPL)

O Shaughnessy Asset Management LLC grew its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 21.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,403 shares of the financial services provider’s stock after buying an additional 427 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Texas Pacific Land were worth $2,658,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Assetmark Inc. acquired a new stake in shares of Texas Pacific Land during the fourth quarter valued at $29,000. Atala Financial Inc purchased a new position in Texas Pacific Land in the 4th quarter valued at about $31,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Texas Pacific Land during the 4th quarter worth about $66,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of 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 worth $76,000 after buying an additional 12 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new position in shares of Texas Pacific Land in the fourth quarter valued at approximately $87,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the company’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. This represents a 45.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were 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 directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 72 shares of company stock valued at $96,620. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of NYSE TPL opened at $1,226.25 on Friday. The firm has a market cap of $28.19 billion, a P/E ratio of 62.18 and a beta of 1.69. Texas Pacific Land Co. has a 1 year low of $555.71 and a 1 year high of $1,769.14. The firm’s 50 day moving average price is $1,341.95 and its 200 day moving average price is $1,254.05.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data 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 for the quarter.

Texas Pacific Land Announces Dividend

The business also recently disclosed 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 of this dividend was Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.52%. Texas Pacific Land’s 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.