Commerce Bank Sells 1,485 Shares of Texas Pacific Land Co. (NYSE:TPL)

Commerce Bank lessened its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 33.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,890 shares of the financial services provider's stock after selling 1,485 shares during the period. Commerce Bank's holdings in Texas Pacific Land were worth $3,196,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TPL. Bessemer Group Inc. boosted its stake in Texas Pacific Land by 108.3% during the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after acquiring an additional 13 shares in the last quarter. Assetmark Inc. bought a new stake in shares of Texas Pacific Land in the 4th quarter worth approximately $29,000. Atala Financial Inc purchased a new stake in shares of Texas Pacific Land in the 4th quarter worth approximately $31,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Texas Pacific Land during the 4th quarter valued at approximately $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock valued at $76,000 after buying an additional 12 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Down 0.2 %

Shares of NYSE TPL traded down $2.06 during trading on Friday, reaching $1,333.73. The company had a trading volume of 55,700 shares, compared to its average volume of 153,974. The business's 50-day moving average is $1,306.98 and its 200 day moving average is $1,291.60. The stock has a market cap of $30.66 billion, a PE ratio of 67.63 and a beta of 1.44. Texas Pacific Land Co. has a 12-month low of $555.71 and a 12-month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The company had revenue of $185.78 million for the quarter.

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.

Insider Buying and Selling at Texas Pacific Land

In related news, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total value of $281,193.86. Following the transaction, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the transaction, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 88 shares of company stock worth $114,764. Insiders own 6.50% of the company's stock.

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.