Texas Pacific Land Co. (NYSE:TPL) Position Reduced by First Dallas Securities Inc.

First Dallas Securities Inc. decreased its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,434 shares of the financial services provider's stock after selling 894 shares during the period. Texas Pacific Land comprises approximately 11.5% of First Dallas Securities Inc.'s investment portfolio, making the stock its biggest holding. First Dallas Securities Inc. owned about 0.11% of Texas Pacific Land worth $28,129,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Texas Pacific Land by 21.5% during the 3rd 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 in the last quarter. International Assets Investment Management LLC purchased a new position in Texas Pacific Land in the third quarter worth $45,400,000. State Street Corp increased its position in shares of 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 stake in shares of Texas Pacific Land during the 3rd quarter valued at $14,949,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Texas Pacific Land in the 3rd quarter worth $12,928,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

NYSE:TPL traded down $60.91 during mid-day trading on Thursday, hitting $1,333.41. 118,940 shares of the company's stock traded hands, compared to its average volume of 135,989. The company has a fifty day moving average of $1,289.67 and a 200 day moving average of $1,105.47. Texas Pacific Land Co. has a twelve month low of $471.06 and a twelve month high of $1,769.14. The company has a market capitalization of $30.64 billion, a P/E ratio of 68.42 and a beta of 1.68.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter. The firm had revenue of $173.56 million for the quarter. Texas Pacific Land had a net margin of 65.34% and a return on equity of 40.57%. During the same quarter last year, the company earned $4.58 EPS.

Insiders Place Their Bets

In related news, CAO Stephanie Buffington sold 210 shares of the company'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 value of $291,549.30. Following the sale, the chief accounting officer now owns 584 shares in the company, valued at $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders purchased 68 shares of company stock valued at $94,760. Insiders own 6.50% of the company's stock.

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.