Trust Point Inc. Makes New $273,000 Investment in Texas Pacific Land Co. (NYSE:TPL)

Trust Point Inc. purchased a new position in Texas Pacific Land Co. (NYSE:TPL) in the fourth quarter, HoldingsChannel reports. The firm purchased 247 shares of the financial services provider’s stock, valued at approximately $273,000.

A number of other hedge funds have also modified their holdings of the company. Caprock Group LLC lifted its stake in shares of Texas Pacific Land by 3.0% during the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock valued at $302,000 after buying an additional 8 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 12 shares during the period. Signaturefd LLC lifted its position in shares of Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 13 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Texas Pacific Land by 3.0% in the third quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 13 shares during the period. Finally, First Financial Bankshares Inc raised its stake in Texas Pacific Land by 2.2% during the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock valued at $667,000 after purchasing an additional 16 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Price Performance

TPL stock opened at $1,333.41 on Friday. Texas Pacific Land Co. has a 1-year low of $471.06 and a 1-year high of $1,769.14. The business has a 50 day simple moving average of $1,283.60 and a two-hundred day simple moving average of $1,107.05. The company has a market capitalization of $30.64 billion, a price-to-earnings ratio of 68.42 and a beta of 1.68.

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 firm had revenue of $173.56 million during 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 prior year, the company posted $4.58 EPS.

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the completion of the transaction, the chief accounting officer now directly owns 584 shares in the company, valued at approximately $810,784.72. This represents a 26.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 65 shares of company stock valued at $90,745 in the last 90 days. Insiders own 6.50% of the company’s stock.

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.