Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC decreased its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 13.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,337 shares of the financial services provider's stock after selling 967 shares during the quarter. Lazard Asset Management LLC's holdings in Texas Pacific Land were worth $7,008,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. grew its position in Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after acquiring an additional 13 shares during the period. Assetmark Inc. acquired a new position in shares of Texas Pacific Land in the fourth quarter worth $29,000. Atala Financial Inc acquired a new stake in Texas Pacific Land in the 4th quarter valued at about $31,000. TD Waterhouse Canada Inc. raised its holdings in Texas Pacific Land by 45.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 15 shares in the last quarter. Finally, CoreCap Advisors LLC lifted its position 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 worth $64,000 after purchasing an additional 57 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Texas Pacific Land

In other news, CFO Chris Steddum sold 214 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 3,502 shares of the company's stock, valued at $4,601,592.98. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $1,462,248.00. Following the completion of 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 disclosure for this sale can be found here. In the last three months, insiders have bought 123 shares of company stock valued at $162,602. 6.50% of the stock is owned by company insiders.

Texas Pacific Land Stock Performance

TPL stock traded down $24.57 during midday trading on Monday, reaching $1,405.98. 56,352 shares of the company were exchanged, compared to its average volume of 156,326. The stock's 50-day simple moving average is $1,303.87 and its 200 day simple moving average is $1,323.07. Texas Pacific Land Co. has a 1-year low of $578.56 and a 1-year high of $1,769.14. The company has a market cap of $32.32 billion, a price-to-earnings ratio of 71.30 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data 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). Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The business had revenue of $195.98 million for the quarter, compared to analysts' expectations of $211.00 million.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $1.60 dividend. The ex-dividend date is Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.46%. Texas Pacific Land's dividend payout ratio (DPR) is 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.