24,602 Shares in Texas Pacific Land Co. (NYSE:TPL) Purchased by Beddow Capital Management Inc.

Beddow Capital Management Inc. purchased a new stake in Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 24,602 shares of the financial services provider’s stock, valued at approximately $27,209,000. Texas Pacific Land comprises approximately 11.2% of Beddow Capital Management Inc.’s investment portfolio, making the stock its largest holding. Beddow Capital Management Inc. owned approximately 0.11% of Texas Pacific Land as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. acquired a new stake in Texas Pacific Land in the fourth quarter valued at $29,000. Atala Financial Inc bought a new stake in shares of Texas Pacific Land during the fourth quarter valued at approximately $31,000. Quest Partners LLC bought a new position in shares of Texas Pacific Land in the third quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Texas Pacific Land during the 4th quarter valued at about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position 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 valued at $76,000 after buying an additional 12 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 7.0 %

Shares of NYSE TPL opened at $1,275.33 on Friday. 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 capitalization of $29.31 billion, a PE ratio of 64.67 and a beta of 1.69. The stock’s 50 day moving average price is $1,350.80 and its 200-day moving average price is $1,220.56.

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

Texas Pacific Land Announces Dividend

The firm also recently declared 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. The ex-dividend date was Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.50%. Texas Pacific Land’s payout ratio is 32.45%.

Insider Buying and Selling

In other news, 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 value of $1,462,248.00. Following the completion of the transaction, the vice president now owns 1,393 shares of the company’s stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Chris Steddum sold 214 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the transaction, the chief financial officer now directly owns 3,502 shares of the company’s stock, 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. Insiders have purchased a total of 57 shares of company stock worth $75,675 in the last ninety days. 6.50% of the stock is owned by 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.