Brown Brothers Harriman & Co. Has $5.70 Million Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Brown Brothers Harriman & Co. increased its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,154 shares of the financial services provider’s stock after purchasing an additional 51 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Texas Pacific Land were worth $5,700,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TPL. Assetmark Inc. bought a new position in shares of Texas Pacific Land in the fourth quarter valued at approximately $29,000. Atala Financial Inc acquired a new stake in Texas Pacific Land during the 4th quarter valued at $31,000. Quest Partners LLC bought a new position in Texas Pacific Land in the 3rd quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Texas Pacific Land in the fourth quarter worth $66,000. Finally, 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 purchasing an additional 12 shares during the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL opened at $1,307.86 on Friday. The business has a fifty day moving average of $1,348.93 and a 200-day moving average of $1,242.51. The firm has a market cap of $30.06 billion, a PE ratio of 66.32 and a beta of 1.69. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The company had revenue of $185.78 million during the quarter.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is 32.45%.

Insider Buying and Selling at Texas Pacific Land

In related news, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $1,462,248.00. Following the sale, the vice president now directly owns 1,393 shares of the company’s stock, valued at $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 68 shares of company stock worth $91,008. Insiders own 6.50% of the company’s stock.

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.