UniSuper Management Pty Ltd Grows Position in Texas Pacific Land Co. (NYSE:TPL)

UniSuper Management Pty Ltd grew its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 396.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,203 shares of the financial services provider’s stock after purchasing an additional 1,759 shares during the period. UniSuper Management Pty Ltd’s holdings in Texas Pacific Land were worth $2,436,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Texas Pacific Land by 12.5% during the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider’s stock valued at $2,599,426,000 after purchasing an additional 260,278 shares during the last quarter. York GP Ltd. purchased a new stake in shares of Texas Pacific Land during the 4th quarter valued at $101,859,000. Geode Capital Management LLC lifted its holdings in shares of 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 worth $411,943,000 after acquiring an additional 81,974 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Texas Pacific Land by 31.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider’s stock worth $198,669,000 after acquiring an additional 43,217 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Texas Pacific Land in the fourth quarter valued at $41,303,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 1.8 %

Shares of TPL stock opened at $1,307.86 on Friday. The business has a 50-day moving average price of $1,348.93 and a two-hundred day moving average price of $1,242.51. Texas Pacific Land Co. has a 12-month low of $555.71 and a 12-month 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.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The company had revenue of $185.78 million during 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.49%. Texas Pacific Land’s dividend payout ratio (DPR) is 32.45%.

Insider Activity at Texas Pacific Land

In related news, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction 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 $1,771,227.36. This represents a 45.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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. In the last 90 days, insiders have acquired 68 shares of company stock valued at $91,008. Insiders own 6.50% of the company’s stock.

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.