RWA Wealth Partners LLC Boosts Stake in Texas Pacific Land Co. (NYSE:TPL)

RWA Wealth Partners LLC increased its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 359.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,599 shares of the financial services provider’s stock after buying an additional 12,990 shares during the quarter. RWA Wealth Partners LLC’s holdings in Texas Pacific Land were worth $18,358,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of Texas Pacific Land during the third quarter worth approximately $50,000. Daiwa Securities Group Inc. increased its stake in Texas Pacific Land by 14.8% in the third quarter. Daiwa Securities Group Inc. now owns 1,547 shares of the financial services provider’s stock valued at $1,369,000 after purchasing an additional 200 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Texas Pacific Land in the third quarter valued at about $304,000. Bank of Montreal Can boosted its stake in shares of Texas Pacific Land by 2.2% during the third quarter. Bank of Montreal Can now owns 6,561 shares of the financial services provider’s stock worth $5,820,000 after buying an additional 142 shares during the period. Finally, FMR LLC grew its holdings in shares of Texas Pacific Land by 41.5% during the third quarter. FMR LLC now owns 2,525 shares of the financial services provider’s stock worth $2,234,000 after buying an additional 740 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insider Buying and Selling

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the sale, the vice president now directly owns 1,393 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the transaction, the chief financial officer now owns 3,502 shares of the company’s stock, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 68 shares of company stock worth $91,008 in the last quarter. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Down 1.8 %

TPL opened at $1,307.86 on Friday. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14. The business has a 50 day moving average price of $1,348.93 and a two-hundred day moving average price of $1,242.51. The company has a market cap of $30.06 billion, a PE ratio of 66.32 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last announced 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 business had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is 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.