Texas Pacific Land Co. (NYSE:TPL) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. increased its stake in Texas Pacific Land Co. (NYSE:TPL) by 449.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,313 shares of the financial services provider’s stock after purchasing an additional 17,433 shares during the period. Prudential Financial Inc. owned 0.09% of Texas Pacific Land worth $23,571,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Quest Partners LLC purchased a new stake in shares of Texas Pacific Land during the third quarter valued at $50,000. Citigroup Inc. lifted its position in Texas Pacific Land by 18.0% during the 3rd quarter. Citigroup Inc. now owns 24,318 shares of the financial services provider’s stock worth $21,515,000 after acquiring an additional 3,717 shares during the period. Cerity Partners LLC grew its stake in Texas Pacific Land by 24.5% during the 3rd quarter. Cerity Partners LLC now owns 10,370 shares of the financial services provider’s stock valued at $9,175,000 after purchasing an additional 2,044 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Texas Pacific Land by 14.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,547 shares of the financial services provider’s stock valued at $1,369,000 after purchasing an additional 200 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Texas Pacific Land in the third quarter worth about $304,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 0.2 %

Texas Pacific Land stock opened at $1,360.00 on Thursday. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14. The stock has a 50-day moving average price of $1,352.22 and a 200 day moving average price of $1,235.10. The company has a market capitalization of $31.26 billion, a price-to-earnings ratio of 68.97 and a beta of 1.69.

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 business had revenue of $185.78 million for the quarter.

Texas Pacific Land Announces Dividend

The business 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 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is currently 32.45%.

Insider Buying and Selling at Texas Pacific Land

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 Texas Pacific Land stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the transaction, the vice president now directly owns 1,393 shares of the company’s stock, 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. In the last quarter, insiders purchased 65 shares of company stock worth $86,911. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Company 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.