Atria Investments Inc trimmed its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 66.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 258 shares of the financial services provider's stock after selling 517 shares during the quarter. Atria Investments Inc's holdings in Texas Pacific Land were worth $285,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Assetmark Inc. acquired a new stake in Texas Pacific Land in the fourth quarter worth $29,000. Quest Partners LLC acquired a new position in shares of Texas Pacific Land during the third quarter valued at about $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Texas Pacific Land during the fourth quarter valued at about $66,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock valued at $76,000 after buying an additional 12 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new position in shares of Texas Pacific Land during the fourth quarter valued at about $87,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.
Texas Pacific Land Stock Down 7.0 %
Texas Pacific Land stock traded down $96.16 during midday trading on Friday, hitting $1,275.33. 393,722 shares of the stock were exchanged, compared to its average volume of 140,724. Texas Pacific Land Co. has a 52-week low of $555.71 and a 52-week high of $1,769.14. The stock has a market capitalization of $29.31 billion, a price-to-earnings ratio of 64.67 and a beta of 1.69. The business's 50-day moving average price is $1,351.26 and its 200-day moving average price is $1,217.74.
Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The business had revenue of $185.78 million for the quarter.
Texas Pacific Land Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's dividend payout ratio (DPR) is currently 32.45%.
Insider Buying and Selling
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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was 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 approximately $1,771,227.36. This represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 57 shares of company stock valued at $75,675. Company insiders own 6.50% of the company's stock.
Texas Pacific Land Company Profile
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Free Report)
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.
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