Bar Harbor Wealth Management Trims Stake in Texas Pacific Land Co. (NYSE:TPL)

Bar Harbor Wealth Management cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 18.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,792 shares of the financial services provider's stock after selling 4,043 shares during the quarter. Texas Pacific Land makes up about 1.3% of Bar Harbor Wealth Management's investment portfolio, making the stock its 18th biggest position. Bar Harbor Wealth Management owned about 0.08% of Texas Pacific Land worth $19,677,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TPL. State Street Corp boosted its stake in Texas Pacific Land by 3.8% in the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider's stock worth $674,727,000 after purchasing an additional 27,884 shares during the period. Geode Capital Management LLC boosted its position in shares of Texas Pacific Land by 21.5% during the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider's stock worth $411,943,000 after acquiring an additional 81,974 shares during the last quarter. Magnolia Capital Advisors LLC purchased a new position in Texas Pacific Land during the second quarter valued at $131,014,000. Charles Schwab Investment Management Inc. increased its holdings in Texas Pacific Land by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider's stock valued at $120,694,000 after acquiring an additional 1,984 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Texas Pacific Land by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider's stock worth $92,632,000 after purchasing an additional 9,878 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

Shares of TPL traded down $7.37 during midday trading on Monday, hitting $1,293.56. 155,346 shares of the company traded hands, compared to its average volume of 151,063. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,769.14. The firm has a 50 day moving average of $1,320.23 and a 200-day moving average of $1,038.68. The stock has a market cap of $29.72 billion, a price-to-earnings ratio of 66.37 and a beta of 1.68.

Texas Pacific Land Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, December 2nd. This is a boost from Texas Pacific Land's previous quarterly dividend of $1.17. Texas Pacific Land's dividend payout ratio (DPR) is currently 32.84%.

Insiders Place Their Bets

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the sale, the chief accounting officer now directly owns 584 shares of the company's stock, valued at $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have bought a total of 88 shares of company stock valued at $114,971 in the last quarter. 6.50% of the stock is currently owned by insiders.

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.