Belpointe Asset Management LLC Buys 499 Shares of Texas Pacific Land Trust (NYSE:TPL)

Belpointe Asset Management LLC grew its stake in shares of Texas Pacific Land Trust (NYSE:TPL) by 37.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,846 shares of the financial services provider’s stock after buying an additional 499 shares during the period. Belpointe Asset Management LLC’s holdings in Texas Pacific Land Trust were worth $1,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. Polar Capital LLP increased its position in Texas Pacific Land Trust by 30.1% in the fourth quarter. Polar Capital LLP now owns 37,265 shares of the financial services provider’s stock worth $20,184,000 after purchasing an additional 8,617 shares during the last quarter. Millennium Management LLC increased its position in Texas Pacific Land Trust by 910.1% during the fourth quarter. Millennium Management LLC now owns 6,677 shares of the financial services provider’s stock valued at $3,616,000 after acquiring an additional 6,016 shares during the last quarter. Eaton Vance Management bought a new position in Texas Pacific Land Trust during the third quarter valued at $4,717,000. Marshall Wace North America L.P. bought a new position in Texas Pacific Land Trust during the third quarter valued at $3,612,000. Finally, FMR LLC bought a new position in Texas Pacific Land Trust during the fourth quarter valued at $1,570,000. Hedge funds and other institutional investors own 40.06% of the company’s stock.

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

Shares of TPL traded down $0.35 during trading hours on Friday, reaching $897.96. 19,832 shares of the company traded hands, compared to its average volume of 16,903. The firm 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 12-month low of $409.00 and a 12-month high of $915.66.

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

In other news, major shareholder Horizon Kinetics Llc bought 42 shares of Texas Pacific Land Trust stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of $725.36 per share, for a total transaction of $30,465.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired 595 shares of company stock valued at $477,022 over the last quarter. 0.92% of the stock is currently owned by corporate insiders.

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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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