Bessemer Group Inc. acquired a new stake in Texas Pacific Land Trust (NYSE:TPL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 500 shares of the financial services provider’s stock, valued at approximately $223,000.
Several other institutional investors have also made changes to their positions in TPL. Janney Montgomery Scott LLC purchased a new stake in Texas Pacific Land Trust during the 3rd quarter valued at $292,000. Arlington Partners LLC purchased a new stake in Texas Pacific Land Trust during the 4th quarter valued at $1,608,000. Lagoda Investment Management L.P. boosted its position in Texas Pacific Land Trust by 102.7% during the 3rd quarter. Lagoda Investment Management L.P. now owns 19,930 shares of the financial services provider’s stock valued at $8,054,000 after buying an additional 10,097 shares during the period. Moloney Securities Asset Management LLC purchased a new stake in Texas Pacific Land Trust during the 3rd quarter valued at $257,000. Finally, Alps Advisors Inc. purchased a new stake in Texas Pacific Land Trust during the 3rd quarter valued at $502,000. 39.73% of the stock is owned by institutional investors.
Shares of Texas Pacific Land Trust (NYSE:TPL) opened at $497.10 on Thursday. The firm has a market cap of $3,910.00, a price-to-earnings ratio of 56.81 and a beta of 1.12. Texas Pacific Land Trust has a 12-month low of $259.00 and a 12-month high of $569.99.
Separately, ValuEngine cut shares of Texas Pacific Land Trust from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
TRADEMARK VIOLATION WARNING: This story was published by Week Herald and is owned by of Week Herald. If you are reading this story on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The correct version of this story can be accessed at https://weekherald.com/2018/02/15/bessemer-group-inc-invests-223000-in-texas-pacific-land-trust-tpl.html.
About Texas Pacific Land Trust
Texas Pacific Land Trust (the Trust) is engaged in managing land, including royalty interests, for the benefit of its owners. The Company operates through managing the land segment, which includes sales and leases of such land, and the retention of oil and gas royalties. The Trust derives revenue from all avenues of managing the land, such as oil and gas royalties, grazing leases, easements, sundry and specialty leases, and land sales.
Receive News & Ratings for Texas Pacific Land Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Pacific Land Trust and related companies with MarketBeat.com's FREE daily email newsletter.