1,786 Shares in Texas Pacific Land Co. (NYSE:TPL) Bought by Mizuho Securities USA LLC

Mizuho Securities USA LLC purchased a new stake in Texas Pacific Land Co. (NYSE:TPL) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,786 shares of the financial services provider’s stock, valued at approximately $1,975,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. York GP Ltd. acquired a new stake in Texas Pacific Land in the 4th quarter valued at about $101,859,000. Geode Capital Management LLC lifted its position in shares of Texas Pacific Land by 21.5% in the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after buying an additional 81,974 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Texas Pacific Land by 31.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider’s stock worth $198,669,000 after acquiring an additional 43,217 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Texas Pacific Land during the 4th quarter worth approximately $41,303,000. Finally, Proficio Capital Partners LLC acquired a new stake in Texas Pacific Land during the 4th quarter valued at $31,802,000. Institutional investors own 59.94% of the company’s stock.

Insider Transactions at Texas Pacific Land

In related news, CFO Chris Steddum sold 214 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction dated 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 completion of the sale, the vice president now owns 1,393 shares of the company’s stock, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 59 shares of company stock worth $78,629. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land Price Performance

TPL stock opened at $1,345.74 on Tuesday. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14. The stock has a market cap of $30.93 billion, a price-to-earnings ratio of 68.24 and a beta of 1.69. The company has a fifty day moving average price of $1,351.84 and a two-hundred day moving average price of $1,230.24.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The business had revenue of $185.78 million for 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 company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $1.60 per share. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.45%.

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.