National Bank of Canada FI Boosts Stake in Texas Pacific Land Co. (NYSE:TPL)

National Bank of Canada FI increased its holdings in Texas Pacific Land Co. (NYSE:TPL) by 313.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,015 shares of the financial services provider’s stock after purchasing an additional 6,833 shares during the quarter. National Bank of Canada FI’s holdings in Texas Pacific Land were worth $9,970,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Quantinno Capital Management LP boosted its holdings in Texas Pacific Land by 63.5% in the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock worth $2,634,000 after buying an additional 1,156 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Texas Pacific Land by 5.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock worth $7,864,000 after purchasing an additional 431 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $641,000. Miracle Mile Advisors LLC purchased a new position in shares of Texas Pacific Land in the fourth quarter worth about $8,545,000. Finally, Brave Asset Management Inc. boosted its position in Texas Pacific Land by 87.1% during the fourth quarter. Brave Asset Management Inc. now owns 537 shares of the financial services provider’s stock worth $594,000 after acquiring an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Chris Steddum sold 214 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were 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 of the company’s stock, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction that occurred on 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 transaction, the vice president now directly owns 1,393 shares of the company’s stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired a total of 72 shares of company stock valued at $96,620 over the last quarter. 6.50% of the stock is owned by insiders.

Texas Pacific Land Price Performance

TPL opened at $1,077.32 on Friday. The firm has a market capitalization of $24.76 billion, a price-to-earnings ratio of 54.63 and a beta of 1.69. The company’s 50 day simple moving average is $1,336.23 and its two-hundred day simple moving average is $1,258.38. Texas Pacific Land Co. has a 1-year low of $555.71 and a 1-year high of $1,769.14.

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

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $1.60 dividend. The ex-dividend date was Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.59%. Texas Pacific Land’s payout ratio is 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.