DnB Asset Management AS Has $4.14 Million Stake in Texas Pacific Land Co. (NYSE:TPL)

DnB Asset Management AS lifted its holdings in Texas Pacific Land Co. (NYSE:TPL) by 1.6% during the 4th quarter, Holdings Channel reports. The fund owned 3,741 shares of the financial services provider’s stock after acquiring an additional 58 shares during the quarter. DnB Asset Management AS’s holdings in Texas Pacific Land were worth $4,137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPL. denkapparat Operations GmbH acquired a new stake in Texas Pacific Land in the 4th quarter valued at about $243,000. Pictet Asset Management Holding SA increased its holdings in shares of Texas Pacific Land by 16.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 7,652 shares of the financial services provider’s stock valued at $8,463,000 after purchasing an additional 1,109 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Texas Pacific Land by 2.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 9,119 shares of the financial services provider’s stock worth $10,085,000 after purchasing an additional 231 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Texas Pacific Land during the 4th quarter worth $3,123,000. Finally, Blair William & Co. IL boosted its position in Texas Pacific Land by 4.9% in the 4th quarter. Blair William & Co. IL now owns 8,347 shares of the financial services provider’s stock valued at $9,231,000 after buying an additional 390 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Up 1.7 %

TPL stock opened at $1,327.83 on Tuesday. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14. The company has a market cap of $30.52 billion, a P/E ratio of 67.33 and a beta of 1.69. The business has a fifty day moving average of $1,347.30 and a 200-day moving average of $1,249.46.

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 for the quarter. The firm had revenue of $185.78 million during the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. Texas Pacific Land’s payout ratio is presently 32.45%.

Insiders Place Their Bets

In other news, VP Micheal W. Dobbs sold 1,150 shares of the business’s 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 transaction, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the 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 transaction of $281,193.86. Following the completion of the sale, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 67 shares of company stock valued at $89,873. Company insiders own 6.50% of the company’s stock.

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.