Essex Financial Services Inc. decreased its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,538 shares of the financial services provider's stock after selling 347 shares during the quarter. Texas Pacific Land makes up 1.2% of Essex Financial Services Inc.'s holdings, making the stock its 16th largest position. Essex Financial Services Inc. owned about 0.07% of Texas Pacific Land worth $17,184,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in 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 purchasing an additional 81,974 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Texas Pacific Land during the third quarter worth approximately $45,400,000. State Street Corp boosted its position in Texas Pacific Land by 3.8% during the third 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 in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Texas Pacific Land during the third quarter worth approximately $14,949,000. Finally, Janney Montgomery Scott LLC purchased a new position in Texas Pacific Land during the third quarter worth approximately $12,928,000. Hedge funds and other institutional investors own 59.94% of the company's stock.
Texas Pacific Land Price Performance
TPL stock traded up $19.23 during mid-day trading on Friday, reaching $1,372.41. 85,792 shares of the company's stock were exchanged, compared to its average volume of 124,386. The stock's 50 day moving average is $1,271.88 and its 200 day moving average is $1,130.03. Texas Pacific Land Co. has a 12-month low of $489.47 and a 12-month high of $1,769.14. The company has a market cap of $31.54 billion, a price-to-earnings ratio of 70.42 and a beta of 1.68.
About Texas Pacific Land
(
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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