Mutual Advisors LLC Grows Holdings in Texas Pacific Land Co. (NYSE:TPL)

Mutual Advisors LLC increased its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 1.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,144 shares of the financial services provider’s stock after purchasing an additional 24 shares during the period. Mutual Advisors LLC’s holdings in Texas Pacific Land were worth $2,371,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TPL. Wesbanco Bank Inc. acquired a new position in Texas Pacific Land during the fourth quarter worth $209,000. Janney Montgomery Scott LLC lifted its stake in Texas Pacific Land by 12.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,502 shares of the financial services provider’s stock worth $18,251,000 after acquiring an additional 1,891 shares in the last quarter. Janney Capital Management LLC purchased a new position in Texas Pacific Land during the 4th quarter valued at about $226,000. Atomi Financial Group Inc. acquired a new position in Texas Pacific Land in the 4th quarter valued at about $341,000. Finally, UMB Bank n.a. increased its stake in Texas Pacific Land by 2,839.8% during the fourth quarter. UMB Bank n.a. now owns 2,881 shares of the financial services provider’s stock worth $3,186,000 after purchasing an additional 2,783 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Buying and Selling

In other news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction 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 directly owns 584 shares of the company’s stock, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have bought 77 shares of company stock worth $104,384. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Performance

NYSE TPL opened at $1,404.90 on Friday. The firm has a market cap of $32.28 billion, a price-to-earnings ratio of 72.08 and a beta of 1.68. The firm has a 50 day simple moving average of $1,326.98 and a 200-day simple moving average of $1,070.88. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter. The business had revenue of $173.56 million for the quarter. Texas Pacific Land had a return on equity of 40.57% and a net margin of 65.34%. During the same quarter in the previous year, the business posted $4.58 earnings per share.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.46%. Texas Pacific Land’s payout ratio is currently 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.