Texas Pacific Land Co. (NYSE:TPL) Stake Raised by Pacer Advisors Inc.

Pacer Advisors Inc. increased its holdings in Texas Pacific Land Co. (NYSE:TPL) by 68.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,422 shares of the financial services provider’s stock after buying an additional 7,109 shares during the quarter. Pacer Advisors Inc. owned about 0.08% of Texas Pacific Land worth $19,268,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TPL. KBC Group NV raised its position in shares of Texas Pacific Land by 18.9% during the 4th quarter. KBC Group NV now owns 1,730 shares of the financial services provider’s stock worth $1,913,000 after buying an additional 275 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Texas Pacific Land during the fourth quarter valued at approximately $390,000. Flagship Harbor Advisors LLC raised its holdings in Texas Pacific Land by 17.3% during the fourth quarter. Flagship Harbor Advisors LLC now owns 434 shares of the financial services provider’s stock worth $480,000 after purchasing an additional 64 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its position in Texas Pacific Land by 7.4% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 1,914 shares of the financial services provider’s stock worth $2,117,000 after purchasing an additional 132 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at $66,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the completion of the sale, the chief accounting officer now directly owns 584 shares in the company, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders have bought 73 shares of company stock worth $100,462. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Up 1.4 %

NYSE:TPL opened at $1,273.14 on Wednesday. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,769.14. The firm has a market cap of $29.26 billion, a P/E ratio of 65.32 and a beta of 1.68. The business’s 50-day moving average price is $1,321.19 and its 200 day moving average price is $1,086.15.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, November 6th. The financial services provider reported $4.63 EPS for the quarter. The business had revenue of $173.56 million for the quarter. Texas Pacific Land had a net margin of 65.34% and a return on equity of 40.57%. During the same quarter in the previous year, the firm earned $4.58 earnings per share.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s payout ratio is presently 32.84%.

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.