Lantern Wealth Advisors LLC Takes Position in Texas Pacific Land Co. (NYSE:TPL)

Lantern Wealth Advisors LLC bought a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 210 shares of the financial services provider's stock, valued at approximately $232,000.

A number of other institutional investors have also recently added to or reduced their stakes in TPL. Barclays PLC lifted its position in Texas Pacific Land by 6.1% during the third quarter. Barclays PLC now owns 19,892 shares of the financial services provider's stock valued at $17,600,000 after buying an additional 1,152 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Texas Pacific Land by 26.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 474 shares of the financial services provider's stock valued at $524,000 after acquiring an additional 100 shares during the period. HB Wealth Management LLC lifted its holdings in shares of Texas Pacific Land by 7.1% during the 4th quarter. HB Wealth Management LLC now owns 1,153 shares of the financial services provider's stock valued at $1,276,000 after acquiring an additional 76 shares in the last quarter. UMB Bank n.a. boosted its position in Texas Pacific Land by 2,839.8% during the 4th quarter. UMB Bank n.a. now owns 2,881 shares of the financial services provider's stock worth $3,186,000 after purchasing an additional 2,783 shares during the period. Finally, Atomi Financial Group Inc. purchased a new stake in Texas Pacific Land during the 4th quarter worth $341,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Trading Down 0.3%

NYSE:TPL traded down $3.48 during mid-day trading on Friday, hitting $1,275.42. The company had a trading volume of 84,591 shares, compared to its average volume of 158,186. The business has a fifty day simple moving average of $1,305.90 and a 200-day simple moving average of $1,326.02. The firm has a market capitalization of $29.32 billion, a price-to-earnings ratio of 64.68 and a beta of 1.20. Texas Pacific Land Co. has a 1 year low of $578.56 and a 1 year high of $1,769.14.

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 analysts' consensus estimates of $5.27 by ($0.03). The company had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 32.02%.

Insider Activity

In related news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction 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 sale, the vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Chris Steddum sold 214 shares of the company's stock in a transaction dated Friday, March 14th. The shares were 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 trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders have bought 141 shares of company stock worth $187,715 over the last 90 days. 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.