Wealth Enhancement Advisory Services LLC Buys 301 Shares of Texas Pacific Land Co. (NYSE:TPL)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,172 shares of the financial services provider's stock after purchasing an additional 301 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.05% of Texas Pacific Land worth $13,462,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TPL. Bessemer Group Inc. increased its stake 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 valued at $28,000 after buying an additional 13 shares during the period. Assetmark Inc. purchased a new position in Texas Pacific Land during the 4th quarter valued at $29,000. Atala Financial Inc bought a new position in Texas Pacific Land in the 4th quarter worth $31,000. TD Waterhouse Canada Inc. lifted its position in shares of Texas Pacific Land by 45.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock worth $53,000 after purchasing an additional 15 shares during the period. Finally, CoreCap Advisors LLC boosted its stake in shares of Texas Pacific Land by 5,700.0% during the 4th quarter. CoreCap Advisors LLC now owns 58 shares of the financial services provider's stock valued at $64,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Shares of NYSE TPL traded down $22.20 during midday trading on Wednesday, hitting $1,104.17. 173,468 shares of the company traded hands, compared to its average volume of 160,343. Texas Pacific Land Co. has a 12-month low of $581.55 and a 12-month high of $1,769.14. The firm has a market cap of $25.38 billion, a P/E ratio of 55.99 and a beta of 1.20. The stock has a 50-day moving average price of $1,279.08 and a 200 day moving average price of $1,315.48.

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 for the quarter, missing analysts' consensus estimates of $5.27 by ($0.03). The firm had revenue of $195.98 million for the quarter, compared to analysts' expectations 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 firm also recently announced 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 of this dividend is Monday, June 2nd. Texas Pacific Land's dividend payout ratio is presently 32.02%.

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 on 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the company's stock in a transaction on 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 directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired a total of 169 shares of company stock valued at $220,669 in the last three months. Company insiders own 6.50% of the company's stock.

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.