Douglass Winthrop Advisors LLC Acquires 259 Shares of Texas Pacific Land Co. (NYSE:TPL)

Douglass Winthrop Advisors LLC raised its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 99,457 shares of the financial services provider’s stock after buying an additional 259 shares during the quarter. Texas Pacific Land comprises about 2.1% of Douglass Winthrop Advisors LLC’s investment portfolio, making the stock its 18th largest holding. Douglass Winthrop Advisors LLC owned approximately 0.43% of Texas Pacific Land worth $109,995,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TPL. Assetmark Inc. purchased a new stake in shares of Texas Pacific Land during the fourth quarter valued at about $29,000. Atala Financial Inc purchased a new stake in shares of Texas Pacific Land during the fourth quarter valued at about $31,000. Quest Partners LLC purchased a new stake in shares of Texas Pacific Land during the third quarter valued at about $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Texas Pacific Land during the fourth quarter valued at about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of 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 buying an additional 12 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the sale, the chief financial officer now owns 3,502 shares of the company’s stock, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm’s stock in a transaction that occurred 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 $1,771,227.36. The trade was a 45.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 57 shares of company stock valued at $75,675. 6.50% of the stock is owned by insiders.

Texas Pacific Land Stock Down 0.8 %

Shares of Texas Pacific Land stock opened at $1,373.63 on Friday. The firm has a market capitalization of $31.57 billion, a P/E ratio of 69.66 and a beta of 1.69. The company has a 50 day moving average price of $1,351.26 and a 200 day moving average price of $1,217.74. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14.

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 firm had revenue of $185.78 million during the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

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. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is presently 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.