427 Shares in Texas Pacific Land Co. (NYSE:TPL) Acquired by CMC Financial Group

CMC Financial Group bought a new position in shares of Texas Pacific Land Co. (NYSE:TPL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 427 shares of the financial services provider’s stock, valued at approximately $472,000. Texas Pacific Land accounts for about 1.0% of CMC Financial Group’s portfolio, making the stock its 15th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assetmark Inc. purchased a new position in Texas Pacific Land in the 4th quarter worth approximately $29,000. Atala Financial Inc purchased a new position in Texas Pacific Land in the 4th quarter worth approximately $31,000. Quest Partners LLC purchased a new position in Texas Pacific Land in the 3rd quarter worth approximately $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Texas Pacific Land in the 4th quarter worth approximately $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after buying an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

TPL stock opened at $1,275.33 on Monday. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14. The stock has a market cap of $29.31 billion, a PE ratio of 64.67 and a beta of 1.69. The firm has a 50 day simple moving average of $1,350.80 and a two-hundred day simple moving average of $1,226.35.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data 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 company had revenue of $185.78 million during the quarter.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.50%. Texas Pacific Land’s dividend payout ratio (DPR) is 32.45%.

Insider Activity

In other news, CFO Chris Steddum sold 214 shares of the company’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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the completion of the sale, the vice president now directly owns 1,393 shares of the company’s stock, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 56 shares of company stock valued at $74,564. Corporate insiders own 6.50% of the company’s stock.

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.