Envestnet Portfolio Solutions Inc. Takes Position in Texas Pacific Land Co. (NYSE:TPL)

Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 383 shares of the financial services provider's stock, valued at approximately $424,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quest Partners LLC acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at $50,000. Citigroup Inc. raised its position in shares of Texas Pacific Land by 18.0% in the third quarter. Citigroup Inc. now owns 24,318 shares of the financial services provider's stock worth $21,515,000 after acquiring an additional 3,717 shares during the period. Cerity Partners LLC boosted its stake in shares of Texas Pacific Land by 24.5% during the 3rd quarter. Cerity Partners LLC now owns 10,370 shares of the financial services provider's stock worth $9,175,000 after acquiring an additional 2,044 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Texas Pacific Land by 14.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,547 shares of the financial services provider's stock worth $1,369,000 after acquiring an additional 200 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Texas Pacific Land during the 3rd quarter valued at about $304,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Buying and Selling at Texas Pacific Land

In other news, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction dated 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 completion of the sale, the vice president now directly owns 1,393 shares in the company, valued at $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Chris Steddum sold 214 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now owns 3,502 shares in the company, valued at $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 bought 68 shares of company stock valued at $91,008 over the last quarter. 6.50% of the stock is currently owned by insiders.

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Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded down $24.05 during midday trading on Friday, reaching $1,307.86. 103,050 shares of the company's stock traded hands, compared to its average volume of 148,528. The company has a fifty day simple moving average of $1,348.93 and a two-hundred day simple moving average of $1,245.70. Texas Pacific Land Co. has a 1 year low of $555.71 and a 1 year high of $1,769.14. The company has a market cap of $30.06 billion, a P/E ratio of 66.32 and a beta of 1.69.

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

Texas Pacific Land Announces Dividend

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

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.