Nomura Asset Management Co. Ltd. Increases Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Nomura Asset Management Co. Ltd. lifted its stake in Texas Pacific Land Co. (NYSE:TPL) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,119 shares of the financial services provider’s stock after purchasing an additional 231 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Texas Pacific Land were worth $10,085,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Assetmark Inc. bought a new stake in Texas Pacific Land in the 4th quarter valued at $29,000. Atala Financial Inc purchased a new stake in shares of Texas Pacific Land during the fourth quarter valued at $31,000. Quest Partners LLC purchased a new stake in Texas Pacific Land in the 3rd quarter valued at about $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Texas Pacific Land during the 4th quarter valued at $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased 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 valued at $76,000 after purchasing an additional 12 shares during the period. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $1,307.86 on Monday. The company’s 50-day simple moving average is $1,348.93 and its 200-day simple moving average is $1,245.70. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The stock has a market capitalization of $30.06 billion, a P/E ratio of 66.32 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The business 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 business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given 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 presently 32.45%.

Insiders Place Their Bets

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction on Friday, March 14th. The shares were 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased 67 shares of company stock valued at $89,873 in the last three months. 6.50% of the stock is currently owned by insiders.

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.