Harvest Fund Management Co. Ltd cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 76.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120 shares of the financial services provider's stock after selling 397 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Texas Pacific Land were worth $133,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. purchased a new stake in shares of Texas Pacific Land in the 4th quarter valued at approximately $29,000. Atala Financial Inc purchased a new position in Texas Pacific Land in the fourth quarter valued at $31,000. Quest Partners LLC acquired a new stake in Texas Pacific Land in the third quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Texas Pacific Land during the 4th quarter worth about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Texas Pacific Land by 21.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock worth $76,000 after acquiring an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.
Insider Transactions at Texas Pacific Land
In other news, VP Micheal W. Dobbs sold 1,150 shares of the company'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 completion of the sale, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of 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 disclosure for this sale can be found here. Over the last quarter, insiders acquired 66 shares of company stock worth $88,062. Company insiders own 6.50% of the company's stock.
Texas Pacific Land Stock Down 0.2 %
TPL traded down $2.36 on Wednesday, reaching $1,360.00. The company's stock had a trading volume of 105,112 shares, compared to its average volume of 131,569. The company has a market capitalization of $31.26 billion, a price-to-earnings ratio of 68.97 and a beta of 1.69. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The stock has a 50 day moving average of $1,352.55 and a two-hundred day moving average of $1,234.22.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its 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 business had revenue of $185.78 million for the quarter.
Texas Pacific Land Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $1.60 dividend. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.47%. Texas Pacific Land's payout ratio is 32.45%.
Texas Pacific Land 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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