427 Shares in Texas Pacific Land Co. (NYSE:TPL) Purchased by CMC Financial Group

CMC Financial Group purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 427 shares of the financial services provider’s stock, valued at approximately $472,000. Texas Pacific Land comprises approximately 1.0% of CMC Financial Group’s investment portfolio, making the stock its 15th biggest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Texas Pacific Land by 12.5% in 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 acquiring an additional 260,278 shares during the last quarter. York GP Ltd. purchased a new position in Texas Pacific Land in the fourth quarter valued at about $101,859,000. Geode Capital Management LLC boosted its stake in Texas Pacific Land by 21.5% in the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after acquiring an additional 81,974 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 valued at $198,669,000 after acquiring an additional 43,217 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Texas Pacific Land in the fourth quarter valued at about $41,303,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Down 7.0 %

TPL opened at $1,275.33 on Monday. The stock has a market cap of $29.31 billion, a price-to-earnings ratio of 64.67 and a beta of 1.69. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14. The company’s 50-day moving average price is $1,350.80 and its two-hundred day moving average price is $1,226.35.

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

Texas Pacific Land Dividend Announcement

The firm 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. This represents a $6.40 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.45%.

Insider Activity

In other news, VP Micheal W. Dobbs sold 1,150 shares of the business’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 sale, the vice president now owns 1,393 shares of the company’s stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Chris Steddum sold 214 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of the sale, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired a total of 56 shares of company stock valued at $74,564 over the last quarter. Company 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.