Texas Pacific Land Co. (NYSE:TPL) Shares Purchased by Marietta Wealth Management LLC

Marietta Wealth Management LLC raised its position in Texas Pacific Land Co. (NYSE:TPL) by 46.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,050 shares of the financial services provider’s stock after acquiring an additional 1,915 shares during the period. Marietta Wealth Management LLC’s holdings in Texas Pacific Land were worth $6,691,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Texas Pacific Land during the 3rd quarter valued at approximately $25,000. Compagnie Lombard Odier SCmA purchased a new stake in Texas Pacific Land in the third quarter valued at $44,000. Quest Partners LLC purchased a new stake in Texas Pacific Land in the third quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Texas Pacific Land in the 4th quarter valued at $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Texas Pacific Land by 21.1% during the 4th 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 period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 0.2 %

Shares of TPL opened at $1,297.07 on Friday. The company’s 50-day moving average price is $1,304.42 and its 200 day moving average price is $1,092.16. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,769.14. The firm has a market cap of $29.81 billion, a P/E ratio of 66.55 and a beta of 1.68.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $4.63 earnings per share (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 period last year, the firm posted $4.58 earnings per share.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.49%. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date of this dividend was Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is 32.84%.

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total value of $291,549.30. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 71 shares of company stock valued at $98,215 in the last three months. 6.50% of the stock is owned by corporate insiders.

About Texas Pacific Land

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.