Dudley Capital Management LLC Takes Position in Texas Pacific Land Co. (NYSE:TPL)

Dudley Capital Management LLC acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, Holdings Channel.com reports. The fund acquired 212 shares of the financial services provider’s stock, valued at approximately $234,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Texas Pacific Land by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider’s stock valued at $2,599,426,000 after acquiring an additional 260,278 shares during the last quarter. State Street Corp lifted its position in Texas Pacific Land by 3.8% during the third 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 period. Geode Capital Management LLC lifted its position in Texas Pacific Land by 21.5% during 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 purchasing an additional 81,974 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Texas Pacific Land by 31.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider’s stock worth $198,669,000 after purchasing an additional 43,217 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC grew its position in Texas Pacific Land by 0.3% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 99,457 shares of the financial services provider’s stock worth $109,995,000 after purchasing an additional 259 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Insider Activity at Texas Pacific Land

In other news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land 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 transaction, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 3,502 shares of the company’s stock, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 59 shares of company stock worth $78,629. 6.50% of the stock is owned by company insiders.

Texas Pacific Land Price Performance

NYSE TPL opened at $1,345.74 on Tuesday. The stock has a market capitalization of $30.93 billion, a price-to-earnings ratio of 68.24 and a beta of 1.69. Texas Pacific Land Co. has a 1-year low of $555.71 and a 1-year high of $1,769.14. The business’s fifty day moving average price is $1,351.84 and its 200-day moving average price is $1,230.24.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The company 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s payout ratio 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.