Viking Fund Management LLC Has $1.11 Million Position in Texas Pacific Land Co. (NYSE:TPL)

by · The Cerbat Gem

Viking Fund Management LLC cut its holdings in Texas Pacific Land Co. (NYSE:TPL – Free Report) by 37.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,000 shares of the financial services provider’s stock after selling 600 shares during the period. Viking Fund Management LLC’s holdings in Texas Pacific Land were worth $1,106,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TPL. Dimensional Fund Advisors LP raised its stake in Texas Pacific Land by 8.5% during the second quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock worth $92,632,000 after acquiring an additional 9,878 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Texas Pacific Land in the 2nd quarter valued at about $296,000. Vanguard Personalized Indexing Management LLC grew its holdings in Texas Pacific Land by 30.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 1,117 shares of the financial services provider’s stock worth $820,000 after acquiring an additional 260 shares during the period. Intech Investment Management LLC increased its holdings in Texas Pacific Land by 77.6% in the second quarter. Intech Investment Management LLC now owns 1,732 shares of the financial services provider’s stock valued at $1,272,000 after purchasing an additional 757 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Texas Pacific Land by 533.1% in the 2nd quarter. Pacer Advisors Inc. now owns 5,090 shares of the financial services provider’s stock valued at $3,737,000 after acquiring an additional 4,286 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the completion of the sale, the chief accounting officer now owns 584 shares in the company, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders bought a total of 79 shares of company stock worth $106,288 over the last quarter. 6.50% of the stock is currently owned by insiders.

Texas Pacific Land Stock Up 0.1 %

Shares of NYSE TPL opened at $1,413.97 on Wednesday. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,769.14. The stock has a market cap of $32.49 billion, a price-to-earnings ratio of 72.55 and a beta of 1.68. The company’s fifty day moving average is $1,325.11 and its 200-day moving average is $1,066.10.

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

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid 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 dividend yield of 0.45%. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio is currently 32.84%.

About Texas Pacific Land

(Free Report)

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.

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