Flagship Harbor Advisors LLC Has $480,000 Stake in Texas Pacific Land Co. (NYSE:TPL)

Flagship Harbor Advisors LLC grew its holdings in Texas Pacific Land Co. (NYSE:TPL) by 17.3% in the 4th quarter, Holdings Channel reports. The fund owned 434 shares of the financial services provider’s stock after purchasing an additional 64 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Texas Pacific Land were worth $480,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TPL. Geode Capital Management LLC raised its position in Texas Pacific Land by 21.5% in the 3rd 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. International Assets Investment Management LLC bought a new position in shares of Texas Pacific Land during the 3rd quarter worth approximately $45,400,000. State Street Corp raised its holdings in shares of Texas Pacific Land by 3.8% in the third quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock valued at $674,727,000 after purchasing an additional 27,884 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Texas Pacific Land in the third quarter worth $14,949,000. Finally, Janney Montgomery Scott LLC acquired a new position in Texas Pacific Land during the third quarter worth $12,928,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $1,273.14 on Wednesday. The business has a 50-day moving average of $1,321.19 and a 200-day moving average of $1,086.15. The stock has a market capitalization of $29.26 billion, a price-to-earnings ratio of 65.32 and a beta of 1.68. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,769.14.

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

Texas Pacific Land Increases Dividend

The firm also recently declared 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 is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date was Monday, December 2nd. This represents a $6.40 annualized dividend and a yield of 0.50%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.84%.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land 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 transaction, the chief accounting officer now owns 584 shares in the company, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 73 shares of company stock valued at $100,462 over the last ninety days. 6.50% of the stock is currently owned by company 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.