Partners in Financial Planning Buys New Position in Texas Pacific Land Co. (NYSE:TPL)

Partners in Financial Planning acquired a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 714 shares of the financial services provider's stock, valued at approximately $790,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caprock Group LLC increased its holdings in shares of Texas Pacific Land by 3.0% in the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider's stock worth $302,000 after buying an additional 8 shares during the last quarter. Signaturefd LLC raised its position in Texas Pacific Land by 11.1% during the 4th quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock valued at $111,000 after purchasing an additional 10 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Texas Pacific Land by 21.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock valued at $76,000 after acquiring an additional 12 shares in the last quarter. Glenmede Trust Co. NA raised its stake in Texas Pacific Land by 3.0% in the third quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider's stock worth $390,000 after buying an additional 13 shares in the last quarter. Finally, M&T Bank Corp raised its position in shares of Texas Pacific Land by 2.1% in the 4th quarter. M&T Bank Corp now owns 941 shares of the financial services provider's stock worth $1,041,000 after acquiring an additional 19 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In other news, VP Micheal W. Dobbs sold 1,150 shares of the business'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 transaction, the vice president now owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Chris Steddum sold 214 shares of the company's stock in a transaction dated 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 owns 3,502 shares in the company, valued at $4,601,592.98. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 72 shares of company stock worth $96,620. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Trading Down 11.8 %

Texas Pacific Land stock traded down $143.67 on Friday, hitting $1,077.32. 285,985 shares of the stock traded hands, compared to its average volume of 149,987. Texas Pacific Land Co. has a 1 year low of $555.71 and a 1 year high of $1,769.14. The firm has a market cap of $24.76 billion, a P/E ratio of 54.63 and a beta of 1.69. The business's fifty day simple moving average is $1,336.23 and its 200 day simple moving average is $1,255.71.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (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 disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.

Texas Pacific Land Company 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.