Bank of New York Mellon Corp Has $21.32 Million Stake in Texas Pacific Land Trust (TPL)

Bank of New York Mellon Corp lifted its holdings in shares of Texas Pacific Land Trust (NYSE:TPL) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,367 shares of the financial services provider’s stock after purchasing an additional 2,175 shares during the quarter. Bank of New York Mellon Corp owned about 0.51% of Texas Pacific Land Trust worth $21,322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. grew its stake in Texas Pacific Land Trust by 19.4% during the 4th quarter. Financial Management Professionals Inc. now owns 154 shares of the financial services provider’s stock worth $83,000 after buying an additional 25 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Texas Pacific Land Trust in the 3rd quarter valued at approximately $202,000. MML Investors Services LLC purchased a new position in shares of Texas Pacific Land Trust in the 3rd quarter valued at approximately $223,000. D.A. Davidson & CO. purchased a new position in shares of Texas Pacific Land Trust in the 3rd quarter valued at approximately $240,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Texas Pacific Land Trust by 31.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 379 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 40.06% of the company’s stock.

Separately, ValuEngine upgraded Texas Pacific Land Trust from a “hold” rating to a “buy” rating in a research note on Friday, January 25th.

In other news, major shareholder Horizon Kinetics Llc acquired 42 shares of Texas Pacific Land Trust stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average cost of $741.16 per share, with a total value of $31,128.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have purchased 595 shares of company stock valued at $477,022. 0.92% of the stock is currently owned by insiders.

Shares of TPL traded down $0.35 during mid-day trading on Friday, hitting $897.96. The company’s stock had a trading volume of 19,832 shares, compared to its average volume of 16,903. The stock has a market capitalization of $6.96 billion, a P/E ratio of 33.37 and a beta of 1.32. Texas Pacific Land Trust has a 1-year low of $409.00 and a 1-year high of $915.66.

Texas Pacific Land Trust (NYSE:TPL) last posted its quarterly earnings results on Thursday, January 31st. The financial services provider reported $8.06 EPS for the quarter. The business had revenue of $93.20 million during the quarter. Texas Pacific Land Trust had a return on equity of 119.34% and a net margin of 115.70%.

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Texas Pacific Land Trust Company Profile

Texas Pacific Land Trust holds title to tracts of land in the state of Texas. The company operates through two segments, Land and Resource Management, and Water Service and Operations. It sells, leases, and manages these lands for the benefit of the holders of Certificates of Proprietary Interest in the Trust.

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Institutional Ownership by Quarter for Texas Pacific Land Trust (NYSE:TPL)

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