Family Management Corp Has $6.82 Million Stake in Texas Pacific Land Co. (NYSE:TPL)

Family Management Corp decreased its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 20.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,169 shares of the financial services provider's stock after selling 1,599 shares during the quarter. Texas Pacific Land makes up 1.1% of Family Management Corp's holdings, making the stock its 22nd largest position. Family Management Corp's holdings in Texas Pacific Land were worth $6,823,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Deutsche Bank AG lifted its stake in shares of Texas Pacific Land by 102.9% in the 4th quarter. Deutsche Bank AG now owns 64,643 shares of the financial services provider's stock valued at $71,493,000 after purchasing an additional 32,778 shares during the last quarter. EP Wealth Advisors LLC increased its stake in Texas Pacific Land by 38.8% in the fourth quarter. EP Wealth Advisors LLC now owns 1,412 shares of the financial services provider's stock valued at $1,562,000 after purchasing an additional 395 shares during the last quarter. CoreCap Advisors LLC raised its stake in 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 acquiring an additional 57 shares in the last quarter. Crestline Management LP purchased a new stake in shares of Texas Pacific Land in the 4th quarter valued at about $451,000. Finally, Cetera Investment Advisers grew its position in shares of Texas Pacific Land by 3.2% during the fourth quarter. Cetera Investment Advisers now owns 1,758 shares of the financial services provider's stock worth $1,945,000 after acquiring an additional 54 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Texas Pacific Land stock traded up $15.46 during mid-day trading on Friday, reaching $1,302.95. 83,041 shares of the company were exchanged, compared to its average volume of 155,545. The firm's 50-day simple moving average is $1,298.70 and its two-hundred day simple moving average is $1,312.08. Texas Pacific Land Co. has a twelve month low of $578.56 and a twelve month high of $1,769.14. The firm has a market cap of $29.95 billion, a PE ratio of 66.07 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly 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 company had revenue of $195.98 million for the quarter, compared to analyst estimates 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $1.60 per share. The ex-dividend date is Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.49%. Texas Pacific Land's dividend payout ratio (DPR) is currently 32.02%.

Insiders Place Their Bets

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 transaction of $281,193.86. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction dated 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 directly owns 1,393 shares of the company's stock, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 100 shares of company stock valued at $130,700. 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.