Texas Pacific Land Co. (NYSE:TPL) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Texas Pacific Land Co. (NYSE:TPL) by 127.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,499 shares of the financial services provider’s stock after buying an additional 16,532 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.13% of Texas Pacific Land worth $35,724,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Assetmark Inc. purchased a new stake in Texas Pacific Land in the 4th quarter worth approximately $29,000. Atala Financial Inc acquired a new position in shares of Texas Pacific Land in the 4th quarter valued at $31,000. Quest Partners LLC purchased a new stake in Texas Pacific Land during the third quarter worth $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Texas Pacific Land during the fourth quarter valued at $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insider Buying and Selling at Texas Pacific Land

In related news, VP Micheal W. Dobbs sold 1,150 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total value 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land 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 sale, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased a total of 68 shares of company stock valued at $91,008 over the last ninety days. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Down 1.8 %

TPL stock opened at $1,307.86 on Friday. Texas Pacific Land Co. has a 52-week low of $555.71 and a 52-week high of $1,769.14. The firm has a market cap of $30.06 billion, a P/E ratio of 66.32 and a beta of 1.69. The company’s 50-day simple moving average is $1,348.93 and its 200-day simple moving average is $1,242.51.

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

Texas Pacific Land Dividend Announcement

The business also recently disclosed 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 0.49%. The ex-dividend date 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.