Donoghue Forlines LLC Makes New Investment in Texas Pacific Land Co. (NYSE:TPL)

Donoghue Forlines LLC acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 1,769 shares of the financial services provider’s stock, valued at approximately $1,956,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Texas Pacific Land during the 3rd quarter valued at about $25,000. Compagnie Lombard Odier SCmA purchased a new stake in Texas Pacific Land in the third quarter valued at approximately $44,000. Quest Partners LLC acquired a new position in Texas Pacific Land in the 3rd quarter worth approximately $50,000. Thurston Springer Miller Herd & Titak Inc. raised its position in Texas Pacific Land by 21.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after buying an additional 12 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 13 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the transaction, the chief accounting officer now owns 584 shares of the company’s stock, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders purchased 80 shares of company stock worth $107,683. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Price Performance

TPL stock opened at $1,436.92 on Thursday. The company has a market capitalization of $33.02 billion, a P/E ratio of 73.65 and a beta of 1.68. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,769.14. The firm’s fifty day simple moving average is $1,326.10 and its 200-day simple moving average is $1,068.55.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $4.63 EPS for the quarter. The company had revenue of $173.56 million for the quarter. Texas Pacific Land had a net margin of 65.34% and a return on equity of 40.57%. During the same period in the previous year, the company posted $4.58 earnings per share.

Texas Pacific Land Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.45%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date was Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is 32.84%.

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.