Sustainable Insight Capital Management LLC Buys New Stake in Texas Pacific Land Co. (NYSE:TPL)

Sustainable Insight Capital Management LLC bought a new position in shares of Texas Pacific Land Co. (NYSE:TPL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 300 shares of the financial services provider’s stock, valued at approximately $332,000.

A number of other hedge funds also recently bought and sold shares of TPL. Magnolia Capital Advisors LLC bought a new stake in shares of Texas Pacific Land in the second quarter valued at approximately $131,014,000. Geode Capital Management LLC raised its stake in Texas Pacific Land by 21.5% during the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after purchasing an additional 81,974 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Texas Pacific Land in the 3rd quarter worth $45,400,000. AQR Capital Management LLC increased its holdings in shares of Texas Pacific Land by 751.4% during the 2nd quarter. AQR Capital Management LLC now owns 35,759 shares of the financial services provider’s stock worth $26,257,000 after purchasing an additional 31,559 shares during the period. Finally, State Street Corp lifted its stake in shares of Texas Pacific Land by 3.8% in the third quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock valued at $674,727,000 after buying an additional 27,884 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Trading Down 0.8 %

Shares of TPL stock opened at $1,404.90 on Friday. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,769.14. The company has a market capitalization of $32.28 billion, a P/E ratio of 72.08 and a beta of 1.68. The stock has a 50 day moving average of $1,326.98 and a two-hundred day moving average of $1,070.88.

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

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $1.60 dividend. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, December 2nd. Texas Pacific Land’s dividend payout ratio is currently 32.84%.

Insider Transactions at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the completion of the sale, the chief accounting officer now owns 584 shares of the company’s stock, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 77 shares of company stock valued at $104,384. Corporate insiders own 6.50% of the company’s stock.

About Texas Pacific Land

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.