Dudley Capital Management LLC Invests $234,000 in Texas Pacific Land Co. (NYSE:TPL)

Dudley Capital Management LLC bought a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 212 shares of the financial services provider’s stock, valued at approximately $234,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. bought a new position in Texas Pacific Land in the 4th quarter worth $29,000. Atala Financial Inc purchased a new position in shares of Texas Pacific Land during the fourth quarter valued at about $31,000. Quest Partners LLC bought a new position in Texas Pacific Land in the third quarter worth about $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Texas Pacific Land in the fourth quarter worth about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted 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 acquiring an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insiders Place Their Bets

In other news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Chris Steddum sold 214 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of the transaction, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 59 shares of company stock worth $78,629. 6.50% of the stock is currently owned by company insiders.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL opened at $1,345.74 on Tuesday. The firm has a market capitalization of $30.93 billion, a P/E ratio of 68.24 and a beta of 1.69. The stock has a 50 day moving average price of $1,351.84 and a 200-day moving average price of $1,230.24. Texas Pacific Land Co. has a 52-week low of $555.71 and a 52-week high of $1,769.14.

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

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s payout ratio is currently 32.45%.

About Texas Pacific Land

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.