Korea Investment CORP Has $10.61 Million Holdings in Texas Pacific Land Co. (NYSE:TPL)

Korea Investment CORP lifted its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 83.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,592 shares of the financial services provider’s stock after purchasing an additional 4,375 shares during the quarter. Korea Investment CORP’s holdings in Texas Pacific Land were worth $10,608,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Hilltop Holdings Inc. raised its holdings in Texas Pacific Land by 290.3% during the third quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock worth $1,606,000 after buying an additional 1,350 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Texas Pacific Land by 63.5% in the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock worth $2,634,000 after acquiring an additional 1,156 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Texas Pacific Land by 5.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock worth $7,864,000 after acquiring an additional 431 shares during the last quarter. Everence Capital Management Inc. bought a new position in Texas Pacific Land in the 4th quarter valued at about $641,000. Finally, Miracle Mile Advisors LLC acquired a new position in Texas Pacific Land during the 4th quarter valued at about $8,545,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Down 1.8 %

Shares of Texas Pacific Land stock opened at $1,307.86 on Monday. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14. The business has a 50 day moving average price of $1,348.93 and a 200-day moving average price of $1,245.70. The company has a market cap of $30.06 billion, a PE ratio of 66.32 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The business had revenue of $185.78 million during 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 company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s payout ratio is currently 32.45%.

Insider Buying and Selling

In related news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the sale, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 67 shares of company stock worth $89,873. 6.50% of the stock is owned by insiders.

Texas Pacific Land 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.