Adams Natural Resources Fund Inc. Buys Shares of 5,550 Texas Pacific Land Co. (NYSE:TPL)

Adams Natural Resources Fund Inc. purchased a new position in Texas Pacific Land Co. (NYSE:TPL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,550 shares of the financial services provider’s stock, valued at approximately $6,138,000. Texas Pacific Land comprises about 1.0% of Adams Natural Resources Fund Inc.’s portfolio, making the stock its 23rd biggest holding.

Other institutional investors also recently made changes to their positions in the company. Quest Partners LLC acquired a new position in Texas Pacific Land in the 3rd quarter valued at about $50,000. Caprock Group LLC acquired a new position in shares of Texas Pacific Land in the third quarter valued at approximately $234,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Texas Pacific Land in the third quarter valued at approximately $395,000. Pacer Advisors Inc. boosted its position in Texas Pacific Land by 102.6% during the third quarter. Pacer Advisors Inc. now owns 10,313 shares of the financial services provider’s stock worth $9,124,000 after acquiring an additional 5,223 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Texas Pacific Land by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock worth $120,694,000 after acquiring an additional 1,984 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Texas Pacific Land news, 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm’s 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 in the company, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 57 shares of company stock valued at $75,675. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Down 7.0 %

Shares of Texas Pacific Land stock opened at $1,275.33 on Friday. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The business’s fifty day moving average is $1,350.80 and its two-hundred day moving average is $1,220.56. The firm has a market cap of $29.31 billion, a PE ratio of 64.67 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last released its earnings results 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 for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $1.60 dividend. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.50%. Texas Pacific Land’s payout ratio is 32.45%.

Texas Pacific Land 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.