Cresset Asset Management LLC Has $1.72 Million Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Cresset Asset Management LLC lessened its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 74.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,551 shares of the financial services provider's stock after selling 4,597 shares during the period. Cresset Asset Management LLC's holdings in Texas Pacific Land were worth $1,715,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in TPL. Bessemer Group Inc. raised its position in shares of 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 during the last quarter. Assetmark Inc. bought a new position in shares of Texas Pacific Land in the 4th quarter valued at about $29,000. Atala Financial Inc acquired a new stake in shares of Texas Pacific Land during the 4th quarter worth approximately $31,000. TD Waterhouse Canada Inc. raised its stake in shares of Texas Pacific Land by 45.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock worth $53,000 after buying an additional 15 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Texas Pacific Land in the fourth quarter valued at approximately $66,000. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Performance

TPL traded up $11.24 during trading on Thursday, reaching $1,417.16. 127,338 shares of the company's stock were exchanged, compared to its average volume of 155,690. Texas Pacific Land Co. has a fifty-two week low of $578.56 and a fifty-two week high of $1,769.14. The company's fifty day moving average price is $1,300.16 and its 200-day moving average price is $1,316.36. The firm has a market capitalization of $32.58 billion, a PE ratio of 71.86 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.27 by ($0.03). The company had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land's payout ratio is presently 32.02%.

Insiders Place Their Bets

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the sale, the vice president now owns 1,393 shares of the company's stock, valued at $1,771,227.36. This trade represents a 45.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 114 shares of company stock worth $149,744. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Company 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.