Texas Pacific Land Co. (NYSE:TPL) Shares Acquired by Aviva PLC

Aviva PLC lifted its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 734.6% in the fourth quarter, Holdings Channel reports. The firm owned 12,177 shares of the financial services provider’s stock after buying an additional 10,718 shares during the period. Aviva PLC’s holdings in Texas Pacific Land were worth $13,467,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TPL. FMR LLC raised its holdings in shares of Texas Pacific Land by 41.5% during the third quarter. FMR LLC now owns 2,525 shares of the financial services provider’s stock valued at $2,234,000 after acquiring an additional 740 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of Texas Pacific Land during the third quarter worth approximately $226,000. Janus Henderson Group PLC raised its stake in Texas Pacific Land by 7.7% in the 3rd quarter. Janus Henderson Group PLC now owns 1,496 shares of the financial services provider’s stock valued at $1,323,000 after purchasing an additional 107 shares during the last quarter. Quantinno Capital Management LP lifted 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 valued at $2,634,000 after purchasing an additional 1,156 shares in the last quarter. Finally, State Street Corp boosted its stake in Texas Pacific Land by 3.8% during the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock worth $674,727,000 after purchasing an additional 27,884 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 6.9 %

Shares of NYSE TPL opened at $1,153.57 on Tuesday. The firm has a 50-day simple moving average of $1,334.28 and a 200-day simple moving average of $1,262.71. The stock has a market capitalization of $26.51 billion, a price-to-earnings ratio of 58.50 and a beta of 1.44. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week 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. 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 business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $1.60 dividend. The ex-dividend date was Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.55%. Texas Pacific Land’s dividend payout ratio is presently 32.45%.

Insider Buying and Selling

In other news, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction 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 transaction, the chief financial officer now owns 3,502 shares in the company, valued at $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 company’s stock in a transaction dated Thursday, March 13th. The shares were 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 of the company’s stock, valued at $1,771,227.36. This represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 74 shares of company stock worth $98,891. 6.50% of the stock is owned by corporate insiders.

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.