Donoghue Forlines LLC Invests $1.96 Million in Texas Pacific Land Co. (NYSE:TPL)

Donoghue Forlines LLC purchased a new position in Texas Pacific Land Co. (NYSE:TPL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,769 shares of the financial services provider’s stock, valued at approximately $1,956,000.

A number of other hedge funds have also recently made changes to their positions in TPL. Dimensional Fund Advisors LP grew its stake in Texas Pacific Land by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock worth $92,632,000 after acquiring an additional 9,878 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Texas Pacific Land by 30.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 1,117 shares of the financial services provider’s stock worth $820,000 after purchasing an additional 260 shares during the period. Intech Investment Management LLC raised its position in Texas Pacific Land by 77.6% during the 2nd quarter. Intech Investment Management LLC now owns 1,732 shares of the financial services provider’s stock valued at $1,272,000 after purchasing an additional 757 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Texas Pacific Land by 533.1% in the 2nd quarter. Pacer Advisors Inc. now owns 5,090 shares of the financial services provider’s stock worth $3,737,000 after buying an additional 4,286 shares during the period. Finally, Sei Investments Co. grew its position in shares of Texas Pacific Land by 14.2% during the 2nd quarter. Sei Investments Co. now owns 901 shares of the financial services provider’s stock worth $662,000 after buying an additional 112 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Stephanie Buffington sold 210 shares of the 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 $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have purchased 80 shares of company stock worth $107,683. 6.50% of the stock is currently owned by company insiders.

Texas Pacific Land Price Performance

TPL stock opened at $1,436.92 on Thursday. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,769.14. The business has a 50-day moving average price of $1,326.10 and a 200 day moving average price of $1,068.55. 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 (NYSE:TPL) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $4.63 earnings per share for the quarter. The firm had revenue of $173.56 million during 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 EPS.

Texas Pacific Land Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. 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.