Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Vest Financial LLC

Vest Financial LLC lowered its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,809 shares of the financial services provider's stock after selling 377 shares during the quarter. Vest Financial LLC's holdings in Texas Pacific Land were worth $2,397,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. raised its holdings in shares of Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 13 shares in the last quarter. Assetmark Inc. purchased a new position in Texas Pacific Land during the 4th quarter valued at about $29,000. Atala Financial Inc bought a new stake in shares of Texas Pacific Land in the 4th quarter valued at about $31,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Texas Pacific Land by 175.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 33 shares of the financial services provider's stock worth $44,000 after purchasing an additional 21 shares during the period. Finally, TD Waterhouse Canada Inc. boosted 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 valued at $53,000 after purchasing an additional 15 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, 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 directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. This trade represents a 45.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Chris Steddum sold 214 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer now directly 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. Insiders bought 183 shares of company stock valued at $234,945 over the last 90 days. Insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Down 0.7%

TPL stock traded down $7.74 during trading on Monday, hitting $1,105.52. 135,751 shares of the company's stock traded hands, compared to its average volume of 161,289. The firm has a market capitalization of $25.41 billion, a P/E ratio of 56.06 and a beta of 1.12. Texas Pacific Land Co. has a 1 year low of $614.56 and a 1 year high of $1,769.14. The business has a fifty day simple moving average of $1,269.74 and a two-hundred day simple moving average of $1,308.91.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly 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 analysts' expectations 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's payout ratio is currently 32.02%.

About Texas Pacific Land

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.