PKS Advisory Services LLC Invests $322,000 in Texas Pacific Land Co. (NYSE:TPL)

PKS Advisory Services LLC purchased a new position in Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, HoldingsChannel reports. The fund purchased 290 shares of the financial services provider’s stock, valued at approximately $322,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. purchased a new position in Texas Pacific Land in the 4th quarter worth approximately $29,000. Atala Financial Inc acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at approximately $31,000. Quest Partners LLC purchased a new position in Texas Pacific Land during the third quarter worth approximately $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Texas Pacific Land during the fourth quarter worth $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in 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 valued at $76,000 after buying an additional 12 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the business’s 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 value of $1,462,248.00. Following the completion of 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 disclosure for this sale can be found here. Over the last three months, insiders have acquired 59 shares of company stock worth $78,629. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Up 1.4 %

Shares of TPL opened at $1,363.79 on Wednesday. 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 fifty day simple moving average of $1,352.55 and a two-hundred day simple moving average of $1,234.22. The company has a market capitalization of $31.35 billion, a PE ratio of 69.16 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 earnings per share (EPS) 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 company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s payout ratio is presently 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.