NEOS Investment Management LLC Acquires New Stake in Texas Pacific Land Co. (NYSE:TPL)

NEOS Investment Management LLC bought a new position in shares of Texas Pacific Land Co. (NYSE:TPL) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 933 shares of the financial services provider’s stock, valued at approximately $1,032,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. bought a new position in shares of Texas Pacific Land during the fourth quarter worth about $29,000. Atala Financial Inc bought a new position in shares of Texas Pacific Land during the 4th quarter worth approximately $31,000. Quest Partners LLC acquired a new stake in shares of Texas Pacific Land in the third quarter valued at approximately $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Texas Pacific Land in the fourth quarter worth $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 12 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 1.8 %

Shares of TPL stock opened at $1,307.86 on Friday. The firm’s fifty day moving average price is $1,348.93 and its two-hundred day moving average price is $1,242.51. Texas Pacific Land Co. has a 1 year low of $555.71 and a 1 year high of $1,769.14. The firm has a market capitalization of $30.06 billion, a P/E ratio of 66.32 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The business 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 company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $1.60 per share. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.49%. Texas Pacific Land’s payout ratio is 32.45%.

Insiders Place Their Bets

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was 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 owns 3,502 shares in the company, valued at $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction that occurred on 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 transaction, the vice president now owns 1,393 shares of the company’s stock, valued at $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 68 shares of company stock valued at $91,008. 6.50% of the stock is currently owned by corporate insiders.

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.