Guggenheim Capital LLC Buys 960 Shares of Texas Pacific Land Co. (NYSE:TPL)

Guggenheim Capital LLC raised its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 178.4% in the 4th quarter, Holdings Channel reports. The firm owned 1,498 shares of the financial services provider’s stock after acquiring an additional 960 shares during the period. Guggenheim Capital LLC’s holdings in Texas Pacific Land were worth $1,657,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TPL. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Texas Pacific Land in the fourth quarter worth about $166,000. Walleye Capital LLC raised its holdings in shares of Texas Pacific Land by 862.5% during the 4th quarter. Walleye Capital LLC now owns 2,464 shares of the financial services provider’s stock worth $2,725,000 after acquiring an additional 2,208 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Texas Pacific Land during the 4th quarter valued at approximately $2,590,000. CreativeOne Wealth LLC purchased a new position in shares of Texas Pacific Land in the fourth quarter valued at $247,000. Finally, Mariner LLC increased its position in Texas Pacific Land by 12.5% in the fourth quarter. Mariner LLC now owns 11,926 shares of the financial services provider’s stock worth $13,190,000 after purchasing an additional 1,326 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insider Activity at Texas Pacific Land

In related news, CFO Chris Steddum sold 214 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at $4,601,592.98. This represents a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the company’s stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 84 shares of company stock worth $109,748. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Up 1.4 %

TPL stock opened at $1,295.51 on Monday. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14. The firm has a market capitalization of $29.78 billion, a P/E ratio of 65.70 and a beta of 1.44. The company has a fifty day simple moving average of $1,312.81 and a two-hundred day simple moving average of $1,284.28.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The firm had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is currently 32.45%.

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.