Mediolanum International Funds Ltd Raises Position in Texas Pacific Land Co. (NYSE:TPL)

Mediolanum International Funds Ltd lifted its stake in Texas Pacific Land Co. (NYSE:TPL) by 55.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,033 shares of the financial services provider’s stock after purchasing an additional 2,502 shares during the period. Mediolanum International Funds Ltd’s holdings in Texas Pacific Land were worth $7,769,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of TPL. Geode Capital Management LLC increased its stake in shares of 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 worth $411,943,000 after purchasing an additional 81,974 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Texas Pacific Land in the 3rd quarter worth approximately $45,400,000. State Street Corp lifted its holdings in Texas Pacific Land by 3.8% in the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock worth $674,727,000 after purchasing an additional 27,884 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Texas Pacific Land in the 3rd quarter worth approximately $14,949,000. Finally, Janney Montgomery Scott LLC purchased a new stake in Texas Pacific Land during the 3rd quarter valued at approximately $12,928,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

TPL stock opened at $1,297.07 on Friday. The company’s fifty day moving average price is $1,304.42 and its 200-day moving average price is $1,092.16. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,769.14. The company has a market capitalization of $29.81 billion, a PE ratio of 66.55 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 EPS for the quarter. The business had revenue of $173.56 million for the quarter. Texas Pacific Land had a net margin of 65.34% and a return on equity of 40.57%. During the same quarter in the previous year, the firm earned $4.58 EPS.

Texas Pacific Land Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.49%. The ex-dividend date 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 currently 32.84%.

Insiders Place Their Bets

In related news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the transaction, the chief accounting officer now owns 584 shares of the company’s stock, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 71 shares of company stock valued at $98,215 in the last quarter. 6.50% of the stock is currently owned by insiders.

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.