UniSuper Management Pty Ltd Raises Stake in Texas Pacific Land Co. (NYSE:TPL)

UniSuper Management Pty Ltd boosted its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 396.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,203 shares of the financial services provider’s stock after buying an additional 1,759 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Texas Pacific Land were worth $2,436,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Assetmark Inc. bought a new position in shares of Texas Pacific Land during the 4th quarter valued at approximately $29,000. Atala Financial Inc purchased a new position in Texas Pacific Land in the fourth quarter valued at approximately $31,000. Quest Partners LLC bought a new position in Texas Pacific Land during the third quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Texas Pacific Land in the fourth quarter worth $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Texas Pacific Land by 21.1% in 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 buying an additional 12 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

TPL stock opened at $1,307.86 on Friday. The stock has a fifty day moving average of $1,348.93 and a 200-day moving average of $1,242.51. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The company has a market capitalization of $30.06 billion, a price-to-earnings ratio of 66.32 and a beta of 1.69.

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

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.49%. Texas Pacific Land’s dividend payout ratio is 32.45%.

Insider Buying and Selling at Texas Pacific Land

In related news, VP Micheal W. Dobbs sold 1,150 shares of the business’s 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 sale, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the firm’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 owns 3,502 shares of the company’s stock, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 68 shares of company stock valued at $91,008 in the last 90 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.