Texas Pacific Land Co. (NYSE:TPL) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp boosted its stake in Texas Pacific Land Co. (NYSE:TPL) by 163.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,999 shares of the financial services provider’s stock after acquiring an additional 1,860 shares during the quarter. Cibc World Markets Corp’s holdings in Texas Pacific Land were worth $3,317,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. purchased a new position in Texas Pacific Land in the 4th quarter valued at $29,000. Atala Financial Inc purchased a new position in shares of Texas Pacific Land during the 4th quarter worth $31,000. Quest Partners LLC purchased a new stake in Texas Pacific Land in the 3rd quarter valued at about $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Texas Pacific Land in the 4th quarter valued at about $66,000. Finally, 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 valued at $76,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 0.8 %

Shares of TPL opened at $1,373.63 on Friday. The firm has a market cap of $31.57 billion, a P/E ratio of 69.66 and a beta of 1.69. Texas Pacific Land Co. has a 12-month low of $555.71 and a 12-month high of $1,769.14. The company’s 50-day moving average price is $1,351.26 and its 200 day moving average price is $1,217.74.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The business had revenue of $185.78 million during 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s payout ratio is currently 32.45%.

Insider Activity

In related news, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the sale, 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. Over the last ninety days, insiders bought 57 shares of company stock valued at $75,675. 6.50% of the stock is currently owned by company insiders.

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.