Royal London Asset Management Ltd. Grows Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Royal London Asset Management Ltd. raised its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 11.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,147 shares of the financial services provider’s stock after buying an additional 956 shares during the period. Royal London Asset Management Ltd.’s holdings in Texas Pacific Land were worth $10,116,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPL. Assetmark Inc. purchased a new position in Texas Pacific Land in the fourth quarter valued at $29,000. Atala Financial Inc purchased a new position in Texas Pacific Land in the fourth quarter valued at $31,000. Quest Partners LLC purchased a new position in Texas Pacific Land in the third quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Texas Pacific Land in the fourth quarter valued at $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Texas Pacific Land by 21.1% in 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 during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Down 7.0 %

NYSE:TPL opened at $1,275.33 on Friday. The firm has a market cap of $29.31 billion, a PE ratio of 64.67 and a beta of 1.69. The stock has a fifty day moving average price of $1,350.80 and a 200 day moving average price of $1,223.39. Texas Pacific Land Co. has a 12-month low of $555.71 and a 12-month high of $1,769.14.

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

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is presently 32.45%.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the sale, the vice president now owns 1,393 shares in the company, valued at approximately $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. Insiders have acquired a total of 57 shares of company stock worth $75,675 over the last ninety days. Corporate 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.