Janney Capital Management LLC Invests $226,000 in Texas Pacific Land Co. (NYSE:TPL)

Janney Capital Management LLC purchased a new stake in Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 204 shares of the financial services provider’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPL. State Street Corp boosted its stake in shares of 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 valued at $674,727,000 after purchasing an additional 27,884 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 buying an additional 81,974 shares during the period. Magnolia Capital Advisors LLC bought a new position in Texas Pacific Land in the second quarter valued at approximately $131,014,000. Charles Schwab Investment Management Inc. grew its holdings in Texas Pacific Land by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock worth $120,694,000 after acquiring an additional 1,984 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Texas Pacific Land by 8.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock valued at $92,632,000 after acquiring an additional 9,878 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the transaction, the chief accounting officer now directly owns 584 shares in the company, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders bought 80 shares of company stock valued at $107,683. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Down 0.1 %

NYSE:TPL opened at $1,416.01 on Thursday. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,769.14. The stock’s fifty day simple moving average is $1,326.10 and its 200-day simple moving average is $1,068.55. The firm has a market capitalization of $32.54 billion, a P/E ratio of 72.65 and a beta of 1.68.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, November 6th. The financial services provider reported $4.63 earnings per share for the quarter. The firm had revenue of $173.56 million for the quarter. Texas Pacific Land had a return on equity of 40.57% and a net margin of 65.34%. During the same period in the previous year, the company posted $4.58 EPS.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $1.60 per share. The ex-dividend date was Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.45%. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s payout ratio is currently 32.84%.

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.