Lido Advisors LLC Sells 2,838 Shares of Texas Pacific Land Co. (NYSE:TPL)

Lido Advisors LLC reduced its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 18.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,748 shares of the financial services provider's stock after selling 2,838 shares during the quarter. Lido Advisors LLC owned about 0.06% of Texas Pacific Land worth $14,098,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. grew its position in shares of Texas Pacific Land by 108.3% in the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 13 shares during the period. Assetmark Inc. acquired a new position in shares of Texas Pacific Land in the 4th quarter valued at approximately $29,000. Atala Financial Inc acquired a new position in shares of Texas Pacific Land in the 4th quarter valued at approximately $31,000. TD Waterhouse Canada Inc. grew 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 valued at $53,000 after purchasing an additional 15 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Texas Pacific Land in the 4th quarter valued at approximately $66,000. 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 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 value of $281,193.86. Following the completion of the sale, the chief financial officer now owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the business's 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 transaction, 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 disclosure for this sale can be found here. In the last quarter, insiders have bought 95 shares of company stock worth $124,165. Corporate insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Performance

NYSE TPL traded up $21.66 during trading on Thursday, hitting $1,310.53. The stock had a trading volume of 109,357 shares, compared to its average volume of 154,236. The company has a market capitalization of $30.12 billion, a PE ratio of 66.46 and a beta of 1.44. The company's 50-day moving average price is $1,302.75 and its two-hundred day moving average price is $1,299.68. Texas Pacific Land Co. has a 12 month low of $558.00 and a 12 month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The firm had revenue of $185.78 million for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's payout ratio is 32.45%.

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.