LPL Financial LLC Has $14.93 Million Stake in Texas Pacific Land Co. (NYSE:TPL)

LPL Financial LLC increased its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 11.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,501 shares of the financial services provider's stock after purchasing an additional 1,431 shares during the period. LPL Financial LLC owned 0.06% of Texas Pacific Land worth $14,931,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. bought a new stake in shares of Texas Pacific Land in the 4th quarter worth $29,000. Atala Financial Inc bought a new stake in Texas Pacific Land in the fourth quarter worth about $31,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Texas Pacific Land in the 4th quarter valued at about $66,000. 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 valued at $76,000 after purchasing an additional 12 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new position in shares of Texas Pacific Land in the 4th quarter worth approximately $87,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of Texas Pacific Land 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 transaction of $281,193.86. Following the transaction, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the business's stock in a transaction on Thursday, March 13th. The shares were 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 in the company, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 72 shares of company stock worth $96,620. Company insiders own 6.50% of the company's stock.

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Texas Pacific Land Trading Down 11.9 %

TPL stock traded down $165.19 on Thursday, hitting $1,226.25. 181,013 shares of the company's stock traded hands, compared to its average volume of 149,244. The stock has a market cap of $28.19 billion, a price-to-earnings ratio of 62.18 and a beta of 1.69. Texas Pacific Land Co. has a 1-year low of $555.71 and a 1-year high of $1,769.14. The stock has a fifty day moving average of $1,341.95 and a 200-day moving average of $1,254.05.

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

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.52%. Texas Pacific Land's dividend payout ratio is currently 32.45%.

About Texas Pacific Land

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.