Quent Capital LLC Sells 283 Shares of Texas Pacific Land Co. (NYSE:TPL)

Quent Capital LLC decreased its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 44.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 351 shares of the financial services provider's stock after selling 283 shares during the period. Quent Capital LLC's holdings in Texas Pacific Land were worth $465,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TPL. Barclays PLC boosted its stake 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 during the period. KBC Group NV boosted its stake in Texas Pacific Land by 18.9% during the fourth quarter. KBC Group NV now owns 1,730 shares of the financial services provider's stock valued at $1,913,000 after buying an additional 275 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in Texas Pacific Land by 373.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 10,860 shares of the financial services provider's stock worth $12,011,000 after purchasing an additional 8,566 shares during the last quarter. Mediolanum International Funds Ltd lifted its stake in Texas Pacific Land by 55.2% during the fourth quarter. Mediolanum International Funds Ltd now owns 7,033 shares of the financial services provider's stock worth $7,769,000 after purchasing an additional 2,502 shares during the last quarter. Finally, Caprock Group LLC lifted its stake in Texas Pacific Land by 3.0% during the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider's stock worth $302,000 after purchasing an additional 8 shares during the last quarter. Institutional investors own 59.94% of the company's stock.

Insider Transactions at Texas Pacific Land

In related news, VP Micheal W. Dobbs sold 1,150 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the transaction, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. The trade was a 45.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Chris Steddum sold 214 shares of the business's stock in a transaction dated Friday, March 14th. The shares were 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 owns 3,502 shares in the company, valued at approximately $4,601,592.98. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 165 shares of company stock worth $217,572. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Price Performance

TPL stock traded down $82.31 during mid-day trading on Friday, hitting $1,116.02. 371,578 shares of the stock were exchanged, compared to its average volume of 159,555. The business has a fifty day moving average price of $1,292.19 and a 200 day moving average price of $1,320.00. Texas Pacific Land Co. has a 12 month low of $578.56 and a 12 month high of $1,769.14. The stock has a market capitalization of $25.65 billion, a price-to-earnings ratio of 56.59 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly 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 firm had revenue of $195.98 million for the quarter, compared to the consensus estimate 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $1.60 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.57%. Texas Pacific Land's dividend payout ratio is currently 32.02%.

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.