Stifel Financial Corp Trims Stake in Texas Pacific Land Co. (NYSE:TPL)

Stifel Financial Corp decreased its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 39.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,494 shares of the financial services provider's stock after selling 4,834 shares during the quarter. Stifel Financial Corp's holdings in Texas Pacific Land were worth $8,291,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TPL. 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 buying an additional 13 shares during the last quarter. Assetmark Inc. acquired a new stake in Texas Pacific Land in the 4th quarter valued at about $29,000. Atala Financial Inc bought a new position in Texas Pacific Land in the 4th quarter valued at about $31,000. TD Waterhouse Canada Inc. increased its position in 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 worth $53,000 after acquiring an additional 15 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Texas Pacific Land during the 4th quarter worth $66,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, 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 value of $281,193.86. Following the completion of the sale, the chief financial officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the business'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 value of $1,462,248.00. Following the transaction, the vice president now directly owns 1,393 shares in the company, 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. Insiders purchased 95 shares of company stock valued at $124,165 over the last three months. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Price Performance

Shares of TPL stock traded up $21.66 on Thursday, hitting $1,310.53. 109,357 shares of the company's stock were exchanged, compared to its average volume of 154,236. The company has a 50 day moving average of $1,302.75 and a 200 day moving average of $1,299.68. The stock has a market cap of $30.12 billion, a P/E ratio of 66.46 and a beta of 1.44. 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 issued its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The company had revenue of $185.78 million during 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 given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's dividend payout ratio is currently 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.