KLP Kapitalforvaltning AS Purchases New Position in Texas Pacific Land Co. (NYSE:TPL)

KLP Kapitalforvaltning AS acquired a new position in Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 4,900 shares of the financial services provider’s stock, valued at approximately $5,419,000.

A number of other large investors have also recently made changes to their positions in the business. Caprock Group LLC raised its holdings in shares of Texas Pacific Land by 3.0% during the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 8 shares in the last quarter. Signaturefd LLC raised its holdings in Texas Pacific Land by 11.1% in the 4th quarter. Signaturefd LLC now owns 100 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 10 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Texas Pacific Land by 21.1% in 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 in the last quarter. Glenmede Trust Co. NA lifted its position in shares of Texas Pacific Land by 3.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 13 shares during the period. Finally, M&T Bank Corp boosted its stake in shares of Texas Pacific Land by 2.1% during the 4th quarter. M&T Bank Corp now owns 941 shares of the financial services provider’s stock valued at $1,041,000 after purchasing an additional 19 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Price Performance

TPL stock opened at $1,363.79 on Wednesday. Texas Pacific Land Co. has a 1 year low of $555.71 and a 1 year high of $1,769.14. The firm has a 50-day moving average of $1,352.55 and a 200 day moving average of $1,234.22. The company has a market cap of $31.35 billion, a P/E ratio of 69.16 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The firm had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is currently 32.45%.

Insider Activity

In related news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land 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 transaction, the vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Chris Steddum sold 214 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 59 shares of company stock worth $78,629. Corporate 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.