Federated Hermes Inc. Has $116,000 Position in Texas Pacific Land Co. (NYSE:TPL)

Federated Hermes Inc. decreased its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 94.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105 shares of the financial services provider's stock after selling 1,787 shares during the quarter. Federated Hermes Inc.'s holdings in Texas Pacific Land were worth $116,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Barclays PLC raised its stake in Texas Pacific Land by 6.1% during the 3rd quarter. Barclays PLC now owns 19,892 shares of the financial services provider's stock valued at $17,600,000 after acquiring an additional 1,152 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Texas Pacific Land by 143.8% during the third quarter. Tidal Investments LLC now owns 5,319 shares of the financial services provider's stock valued at $4,706,000 after purchasing an additional 3,137 shares during the period. Synovus Financial Corp acquired a new stake in Texas Pacific Land in the third quarter worth about $208,000. Franklin Resources Inc. grew its position in Texas Pacific Land by 74.0% in the 3rd quarter. Franklin Resources Inc. now owns 14,367 shares of the financial services provider's stock valued at $12,711,000 after buying an additional 6,109 shares in the last quarter. Finally, First Financial Bank Trust Division bought a new position in Texas Pacific Land in the 4th quarter valued at about $217,000. Institutional investors 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 business's stock in a transaction 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 directly owns 1,393 shares of the company's stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Chris Steddum sold 214 shares of the stock in a transaction 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. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 85 shares of company stock valued at $110,778. 6.50% of the stock is owned by insiders.

Texas Pacific Land Stock Performance

Shares of TPL stock traded up $9.16 during midday trading on Thursday, reaching $1,339.86. 22,338 shares of the company were exchanged, compared to its average volume of 153,298. The company's 50 day moving average price is $1,309.31 and its two-hundred day moving average price is $1,286.68. The company has a market cap of $30.80 billion, a P/E ratio of 68.02 and a beta of 1.44. Texas Pacific Land Co. has a 12 month low of $555.71 and a 12 month high of $1,769.14.

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

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.

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.