Cynosure Group LLC cut its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 32.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,355 shares of the financial services provider's stock after selling 641 shares during the quarter. Cynosure Group LLC's holdings in Texas Pacific Land were worth $1,499,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Texas Pacific Land by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock worth $2,599,426,000 after buying an additional 260,278 shares during the last quarter. Geode Capital Management LLC raised its stake in Texas Pacific Land by 34.5% in the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock valued at $693,023,000 after purchasing an additional 159,597 shares during the last quarter. York GP Ltd. purchased a new position in Texas Pacific Land in the 4th quarter valued at about $101,859,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Texas Pacific Land by 31.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock worth $198,669,000 after purchasing an additional 43,217 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Texas Pacific Land during the fourth quarter worth about $41,303,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.
Texas Pacific Land Price Performance
TPL stock traded up $31.22 during midday trading on Monday, hitting $1,110.22. The stock had a trading volume of 176,110 shares, compared to its average volume of 150,502. Texas Pacific Land Co. has a 12-month low of $555.71 and a 12-month high of $1,769.14. The firm has a market cap of $25.52 billion, a PE ratio of 56.30 and a beta of 1.44. The company's 50-day moving average price is $1,336.23 and its 200 day moving average price is $1,261.04.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The company had revenue of $185.78 million during the quarter.
Texas Pacific Land Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.58%. Texas Pacific Land's dividend payout ratio is presently 32.45%.
Insider Buying and Selling
In related news, CFO Chris Steddum sold 214 shares of the firm'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 transaction, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 sale, the vice president now owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. This 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 bought 71 shares of company stock valued at $95,395. 6.50% of the stock is currently owned by company insiders.
Texas Pacific Land Company Profile
(
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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