PKS Advisory Services LLC Buys New Stake in Texas Pacific Land Co. (NYSE:TPL)

PKS Advisory Services LLC purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 290 shares of the financial services provider’s stock, valued at approximately $322,000.

A number of other institutional investors have also modified their holdings of TPL. Quest Partners LLC acquired a new stake in Texas Pacific Land during the third quarter worth about $50,000. Charles Schwab Investment Management Inc. boosted its position in Texas Pacific Land by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock worth $120,694,000 after purchasing an additional 1,984 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Texas Pacific Land by 18.0% during the 3rd quarter. Citigroup Inc. now owns 24,318 shares of the financial services provider’s stock valued at $21,515,000 after purchasing an additional 3,717 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Texas Pacific Land by 24.5% in the 3rd quarter. Cerity Partners LLC now owns 10,370 shares of the financial services provider’s stock valued at $9,175,000 after purchasing an additional 2,044 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in Texas Pacific Land by 14.8% during the third quarter. Daiwa Securities Group Inc. now owns 1,547 shares of the financial services provider’s stock worth $1,369,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insider Activity

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the completion of the transaction, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly 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 acquired 59 shares of company stock worth $78,629 in the last quarter. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Performance

TPL opened at $1,363.79 on Wednesday. The company has a fifty day moving average of $1,352.55 and a two-hundred day moving average of $1,234.22. The stock has a market capitalization of $31.35 billion, a price-to-earnings ratio of 69.16 and a beta of 1.69. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The firm 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.45%.

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.