Atomi Financial Group Inc. Buys Shares of 308 Texas Pacific Land Co. (NYSE:TPL)

Atomi Financial Group Inc. purchased a new stake in Texas Pacific Land Co. (NYSE:TPL) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 308 shares of the financial services provider’s stock, valued at approximately $341,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TPL. Magnolia Capital Advisors LLC purchased a new position in shares of Texas Pacific Land in the 2nd quarter valued at $131,014,000. Geode Capital Management LLC increased its holdings in shares of Texas Pacific Land by 21.5% in the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after acquiring an additional 81,974 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Texas Pacific Land in the 3rd quarter valued at $45,400,000. AQR Capital Management LLC increased its holdings in shares of Texas Pacific Land by 751.4% in the 2nd quarter. AQR Capital Management LLC now owns 35,759 shares of the financial services provider’s stock valued at $26,257,000 after acquiring an additional 31,559 shares during the period. Finally, State Street Corp increased its holdings 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 acquiring an additional 27,884 shares during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Down 3.0 %

Shares of NYSE:TPL opened at $1,363.14 on Friday. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,769.14. The business’s fifty day simple moving average is $1,327.04 and its 200-day simple moving average is $1,077.42. The company has a market capitalization of $31.33 billion, a PE ratio of 69.94 and a beta of 1.68.

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

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.47%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date was Monday, December 2nd. Texas Pacific Land’s payout ratio is 32.84%.

Insider Buying and Selling

In related news, CAO Stephanie Buffington sold 210 shares of the business’s stock in a transaction on 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 $810,784.72. The trade was a 26.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have acquired a total of 78 shares of company stock worth $105,810 in the last ninety days. 6.50% of the stock is owned by insiders.

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.