New Age Alpha Advisors LLC Makes New Investment in Texas Pacific Land Co. (NYSE:TPL)

New Age Alpha Advisors LLC purchased a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,824 shares of the financial services provider’s stock, valued at approximately $3,123,000.

Several other large investors have also recently modified their holdings of TPL. Assetmark Inc. bought a new stake in Texas Pacific Land during the 4th quarter valued at about $29,000. Atala Financial Inc bought a new position in Texas Pacific Land during the fourth quarter valued at approximately $31,000. Quest Partners LLC purchased a new position in shares of Texas Pacific Land in the 3rd quarter worth $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Texas Pacific Land in the fourth quarter worth about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of 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 worth $76,000 after purchasing an additional 12 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Chris Steddum sold 214 shares of the company’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 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $1,462,248.00. Following the completion of the sale, the vice president now owns 1,393 shares of the company’s stock, 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. Insiders bought a total of 68 shares of company stock worth $91,008 over the last three months. 6.50% of the stock is currently owned by company insiders.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $1,307.86 on Friday. Texas Pacific Land Co. has a 1 year low of $555.71 and a 1 year high of $1,769.14. The firm has a fifty day moving average price of $1,348.93 and a 200-day moving average price of $1,242.51. The company has a market cap 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 quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The business had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is currently 32.45%.

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.