EAM Investors LLC trimmed its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 58.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,904 shares of the financial services provider's stock after selling 2,734 shares during the quarter. EAM Investors LLC's holdings in Texas Pacific Land were worth $2,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Texas Pacific Land by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock worth $2,599,426,000 after buying an additional 260,278 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Texas Pacific Land by 203.4% during the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after acquiring an additional 200,841 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Texas Pacific Land by 34.5% during the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after acquiring an additional 159,597 shares in the last quarter. York GP Ltd. acquired a new stake in Texas Pacific Land during the fourth quarter valued at $101,859,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Texas Pacific Land by 31.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock valued at $198,669,000 after purchasing an additional 43,217 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Texas Pacific Land
In other news, CFO Chris Steddum sold 214 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of the sale, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the vice president now directly owns 1,393 shares in the company, valued at $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. Insiders have purchased a total of 83 shares of company stock worth $108,353 over the last three months. Corporate insiders own 6.50% of the company's stock.
Texas Pacific Land Stock Up 3.5 %
Shares of TPL traded up $43.23 during midday trading on Tuesday, reaching $1,292.20. 22,806 shares of the stock were exchanged, compared to its average volume of 152,808. The company has a market cap of $29.70 billion, a price-to-earnings ratio of 65.44 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. The firm has a 50 day simple moving average of $1,310.92 and a 200-day simple moving average of $1,286.17.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The firm had revenue of $185.78 million during the quarter.
Texas Pacific Land Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's payout ratio is 32.45%.
About Texas Pacific Land
(
Free Report)
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.
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